Paul "The Plumber" Davidson
Paul "The Plumber" Davidson (born 21 June 1955) is a British businessman and entrepreneur. He became widely known in the UK business press following proceedings brought by the Financial Services Authority (FSA) concerning a spread bet related to the 2002 flotation of biotechnology company Cyprotex.[1][2][3] In 2006, the Financial Services and Markets Tribunal determined the references in favour of Davidson and trader Ashley Tatham.[4]
A former pipe-fitter, from which his nickname derives, Davidson was fined £750,000 by the Financial Services Authority for market abuse in 2004,[5] a fine which was subsequently overturned.[6]
Early life
Davidson was born in Edgware in north London and later moved to Cheshire as a teenager, leaving school at 15 and taking an apprenticeship with Shell as a pipe-fitting apprentice.[2]
Cyprotex spread bet and market abuse proceedings
In October 2003, the FSA issued a decision notice stating that it had decided to impose a financial penalty of £750,000 on Davidson in connection with an alleged scheme or arrangement to facilitate the flotation of Cyprotex, involving a spread bet placed with City Index and associated hedging transactions.[4] The matter was referred to the Financial Services and Markets Tribunal, which heard evidence in early 2006.[4]
The Tribunal determined the references in favour of Davidson and Tatham and concluded that there was no regulatory obligation to disclose the spread bet or related contract for differences in the prospectus or elsewhere, and that the non-disclosure was not market abuse within the meaning of the Financial Services and Markets Act 2000.[4][1][7]
References
- ^ a b Wachman, Richard (9 December 2007). "'The Plumber' returns with a pipe dream". The Guardian. Retrieved 15 December 2025.
- ^ a b Mathiason, Nick (22 February 2009). "The Plumber has another fortune in the pipeline". The Observer. Retrieved 15 December 2025.
- ^ 'Plumber' chasing £100M pay-out Macclesfield Express, 24 May 2006. Retrieved 29 November 2013.
- ^ a b c d "Davidson and Tatham v The Financial Services Authority (Decision)" (PDF). Financial Services and Markets Tribunal. 2006. Retrieved 15 December 2025.
- ^ Paul the Plumber gives court an issue to address in £15,000 claim by Anna White in The Telegraph, 20 January 2012. Retrieved 29 November 2013.
- ^ ‘The Plumber’ asks FSA for help after ‘removal’ from Fluid Leader The Independent, 22 February 2009. Retrieved 29 November 2013.
- ^ Treanor, Jill (17 May 2005). "The Plumber sticks in a big bill". The Guardian. Retrieved 15 December 2025.