FSA to clamp down on journalists involvement in financial sector
The Financial Services Authority (FSA) has today announced plans for an overhaul of the relationship between journalists and the financial sector. Without naming names, the FSA has confirmed that some analyst close to corporate deals have been in contact with journalists just prior to the announcement of corporate transactions in the financial press. While not all of these conversations have involved the leaking of market sensitive information, with many checking to see exactly what journalists were aware of, the FSA believes that some sensitive information has been passed over.
As a consequence, the relationship between journalists and the City will come under the spotlight in the following months and we are likely to see new regulations introduced to tighten up on this particular area of the regulatory environment. However, no matter how tight the regulations on this particular matter there is no doubt that information regarding future corporate deals does leak into the financial press on a regular basis and will continue to do so.
If you take a step back and consider the UK stock market as not a stock market for shares but an information exchange where individual companies are valued on their prospects and rumours in the press and the markets then you will perhaps see the bigger picture.
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