FSA arrest six more suspected insider dealers
Over the last few months we have seen a significant increase in activity by the FSA in relation to trading abuses in the UK marketplace. The latest raid yesterday saw six arrested across the UK as the regulators continue a serious crack down upon financial misdemeanours and market abuse. While very few details of the specific nature of the alleged abuses have been released in relation to these latest arrests we should hear more over the next few days.
Since winning its first criminal prosecution for insider trading in 2008 the Financial Services Authority has certainly targeted insider traders and those who abuse the system. However, it seems as though the onslaught of the UK recession and difficulties within the investment markets have increased the temptation to indulge in such illegal activity. As a consequence, the Financial Services Authority stock market monitoring team is sure to be increased in size in the short to medium term to allow as many prosecutions to be brought to the courts as possible.
The investigations, which are carried out in conjunction with the Metropolitan police, are often very lengthy and very expensive but there are hopes that further prosecutions will at least quell the numbers of those tempted down this particular avenue.
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