FSA to clean up UK market
LONDON – In mid-March, the UK Financial Services Authority published a new method of measuring the cleanliness of UK financial markets, and the regulator has determined that it needs to step up the number of enforcement actions it undertakes to reduce market abuse.
The results do not show exactly how much market abuse is going on but the researchers detected price movements which suggested that some informed trading may have taken place prior to 28.9% of the takeover announcements and 21.7% of the FTSE350 trading announcements which were identified as being most likely to contain information of use to an insider trader.
Hector Sants, managing director at the FSA, says: "The analysis shows that there was no improvement in market cleanliness in the period
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