Tough stance on insider trading at hedge funds getting results

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FCA to pursue cases against prominent figures in financial industry

The UK financial regulator's tough stance on insider dealing at prominent hedge funds and asset managers has contributed to a 50% fall in "dubious trading activity" around earnings announcements and other market-moving news in the past three years, according to David Kirk, chief criminal counsel at the Financial Conduct Authority (FCA).

Speaking at the GaimOps conference in the Cayman Islands, Kirk highlighted last year's case against David Einhorn and Greenlight Capital as an example of the FCA