FSA toughens approach to insider dealing

FSA chief executive Hector Sants
Hector Sants, chief executive, UK FSA

LONDON – With its first-ever prosecution of an insider-dealing ring, the UK’s Financial Services Authority (FSA) wants to show it is serious about stamping out this type of market abuse. Its latest case targets seven people who are facing 13 criminal charges for conspiracy to deal on insider information obtained from two major undisclosed investment banks. One defendant has also been charged for a money-laundering offence. A preliminary hearing took place in April, but the trial c