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The government is in a desperate race to try and refloat the UK economy before we see a major collapse in the UK employment market. A recent flurry of announcements from various recruitment...
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Wednesday 30th July 2008
Yesterday we reported on the eight arrests on alleged insider dealing and market abuse allegations, with the FSA and City of London police swooping on a number of offices and homes early yesterday morning. It has now been revealed that all suspects have been bailed after questioning, but they will face further questions by the police in due course. On the surface this may look like an initial failure but the fact that these cases are so complicate was always going to see the suspects released.
Market abuse cases are one of the more complicated laws on the statute book and it can literally take months and years to gather all of the evidence and bring the cases to court – if they make it that far. However, of late the FSA seem to be pursing these cases with renewed vigour, determined to bring those guilty to justice and also create a deterrent for anyone else consider such action. But will it work?
Until there is a major breakthrough in a legal case it seems that many of the larger alleged insider trading rings are willing to take the chance. Any case against them would be difficult to prove and they can, and have, literally made millions of pounds. |
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