UK's FCA warns fund groups over market abuse controls

Most asset managers lack strong safeguards

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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