FSA warns debt market on insider dealing


The Financial Services Authority (FSA) on Wednesday censured two traders for insider dealing and warned it would take stronger action in future against this type of market abuse.

Darren Morton, director, and Christopher Parry, vice-president, at Dresdner Kleinwort, now part of Commerzbank, were censured by the FSA for market abuse in relation to a new issue of Barclays’ bonds in March 2007. The FSA says the two traders committed market abuse because they sold the bonds based on inside informatio