Craig Beevers’ whistle-blowing claim against former CEO of the FICC Markets Standards Board struck out of Employment Tribunal

Posted on: 27th May 2020

Craig Beevers had his employment claim against Mr Gerard Harvey, former CEO of the FMSB, thrown out of court on Friday (15 May) for failing to comply with mandatory Advisory, Conciliation and Arbitration Service (Acas) early conciliation procedures and because the Judge found there to no reasonable prospect of success. Allegations of scandalous conduct against Mr Beevers were also set out in the application.

Mr. Beevers was a former employee of the FICC Markets Standards Board (FMSB) Secretariat. The FMSB is a standards-setting body for the fixed income, currency and commodities markets. Mr. Beevers claimed he was a whistleblower and had alleged unfair dismissal against the FMSB and unlawful detriment against Mr Harvey and other members of the board.

Mr Beevers alleged that, at the instigation of Deutsche Bank, Mr Harvey put pressure on him in 2018 to stand down as an expert witness in litigation brought against Deutsche Bank who were a member of the FMSB, and that after he reported this to his employer he was subjected to a detriment and ultimately dismissed.

In a prior hearing, Judge Hodgson stated there was a “real prospect of establishing that the Claimant was dishonest” and of his claim “failing”.

It was Mr Harvey’s case that documents shown to the court revealed that Mr. Beevers had previously submitted false credentials as an expert witness in high value US court cases against Deutsche Bank, JP Morgan and Rabobank, and misrepresented his employment by the FMSB to avoid conflict of interest rules preventing his engagement as an expert witness in the Deutsche and JP Morgan cases.

In litigation against Rabobank and JP Morgan, Mr Beevers even claimed to have been appointed to a Bank of England Committee “at the personal request of the Governor of the Bank of England” despite the Governor making no such appointment. He then tried to explain his actions in the Deutsche Bank case by blaming Korein Tillery, the lawyers in the case, and distancing himself from his own evidence.

Mr Beevers was lucky to avoid a full, public consideration of these particular issues at the hearing, the Judge having decided in any event to dismiss the case for lack of prospects, stating he found it “implausible, to the point of there being no reasonable prospect of the Tribunal so finding, that the Third Respondent (Mr Harvey) had any involvement in decisions concerning the Claimant after he had resigned from his employment “ (Mr Harvey had left the FMSB some 6 months prior to Mr Beevers’ dismissal for gross misconduct).

Mr Harvey’s legal team, Susie Al-Qassab, a Partner at Hodge Jones & Allen Solicitors and Peter Edwards, Barrister at Devereux Chambers said:

“We are pleased that Judge Glennie has recognised that the claims brought against Mr. Harvey were both implausible and brought unlawfully. He should never have been named in this action and we are pleased that these claims have not been allowed to proceed.”

Mr Harvey, who is currently recovering from 3 weeks in ITU battling COVID-19, and has been waiting since January for this decision, said:

“I feel vindicated that this claim against me has been shown to lack merit and to have been brought unlawfully. My thanks to both Susie Al-Qassab of HJA and Peter Edwards (Counsel) of Devereux Chambers for their superlative work in the conduct of this matter.”

For further information, please contact:
Yellow Jersey PR:

Georgina Whittle, Associate Partner
Georgina@yellowjerseypr.com
T: 0808 239 4011 | 0808 239 5975

Sarah Jehan, Account Director
Sarahjehan@yellowjerseypr.com
T: 0808 239 2247 | 0808 239 5975

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