UK's FCA warns fund groups over market abuse controls

Most asset managers lack strong safeguards

FCA review warns asset managers about safeguards

The Financial Conduct Authority (FCA) says fund groups must do more to ensure they control the risk of market abuse, following a thematic review into the issue.

The regulator's review into how asset managers control the risks of insider dealing, improper disclosure and market manipulation found only a "small number" of firms had comprehensive practices and procedures in place.

It comes as the FCA increases its focus on insider dealing and related issues, having issued fines totalling £346 millio