Consultancy fees claimed as business expense-can tax disallowance rest on survey suspicion despite invoices, contracts and bank trail? Appeal dismisse...
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Allegations that the exchange granted preferential market access...
Abuse of dominant position allegations against an exchange found not prima facie; regulator reliance on sectoral expertise upheld and no investigation directed.
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Allegations that the exchange granted preferential market access via co-location facilities and secondary servers were examined; the competition regulator found no prima facie abuse of dominant position because the informant failed to establish overt anti competitive harm or denial of market access to investors, and evidence submitted by the exchange and sectoral expert reports did not support preferential access claims. The regulator permissibly relied on sectoral regulator findings and expert reports in forming its view and therefore declined to direct an investigation. The appellate review upheld that approach and dismissed the challenge to the regulator's decision.
Allegations that the exchange granted preferential market access via co-location facilities and secondary servers were examined; the competition regulator found no prima facie abuse of dominant position because the informant failed to establish overt anti competitive harm or denial of market access to investors, and evidence submitted by the exchange and sectoral expert reports did not support preferential access claims. The regulator permissibly relied on sectoral regulator findings and expert reports in forming its view and therefore declined to direct an investigation. The appellate review upheld that approach and dismissed the challenge to the regulator's decision.
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