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FSA investigates share price movements

The FSA (Financial Services Authority) has confirmed that an investigation into takeovers and mergers in the UK last year revealed suspicious share movements in 30.6% of deals covered. The statistics indicate this is the greatest number or "suspicious share movements" in any one year over the last eight years. However, while there has been an increase in the number of successful market abuse and insider trading convictions there is still much work to be done.

When you consider that over £30 million in fines were handed out last year with regards to insider dealing and market abuse cases we can only imagine how high this figure would be if all alleged insider trading and alleged market abuse cases went to court. However, there is no doubt that an improvement in conviction rates has increased the potential deterrent and more and more people will now be thinking again before considering such activity.

In reality suspicious share price movements have been in evidence for many years in relation to takeovers and mergers and company announcements. Given the vast number of people involved in any one deal or any one announcement to the stock market it is not difficult to see where potential leaks could occur. However, plugging these leaks is a very different matter!

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