Market abuse

One ‘Little Tavern’; One large insider dealing ring

Hayley Humphries

The sophisticated investigative and surveillance methods used in Operation Tabernula (summarised below) evidence how, as Mark Steward (Director of Enforcement at the Financial Conduct Authority (FCA)) put it, ‘the FCA will not tolerate sophisticated predatory criminals abusing our markets’. In this blog post, we provide an overview of Operation Tabernula – the FCA’s longest-running and Read More

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Market abuse controls: The FCA really means business

Sarah Hitchins

Suspicious Transaction Reports (STRs) once again dominated the latest issue of the UK Financial Conduct Authority’s (FCA) Market Watch Newsletter published the other week. Based on its review of 38 firms in 2015, the FCA continued to voice concerns that there is a general ‘under-reporting’ of suspected market abuse across most asset classes. The FCA Read More

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What you need to know about the FCA’s Business Plan for 2016/17

Sarah Hitchins

Yesterday, the UK Financial Conduct Authority (FCA) published its Business Plan for 2016/17. The Business Plan sets out a roadmap for the FCA’s principal areas of focus over the coming year. Overall, there was considerably less focus on enforcement action in this year’s Business Plan (perhaps a sign of a changed attitude on the part Read More

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UK Suspicious Transaction Reports: Latest figures and enforcement findings

Sarah Hitchins

The latest figures published by the Financial Conduct Authority (FCA) show a significant increase in the number of Suspicious Transaction Reports (STRs) filed in the UK. In 2015 the FCA received 1,831 STRs – 13% more than it did in 2014. Coincidentally, the FCA’s publication of its latest STR figures comes the day after a Read More

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Commodities trading and brokering: what are the key controls issues for firms?

Andrew Lee

On 3 September, the FCA published its latest Market Watch newsletter on market conduct and transaction reporting issues. This contains a number of important points for firms involved in the commodities markets, some which are highlighted below. The FCA reviewed the control structures and practices at a sample of 12 firms: brokers, interdealer brokers and Read More

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