Crackdown continues as FSA makes six more arrests

Crackdown continues as FSA makes six more arrests




.

It has been reported that the Financial Services Authority arrested six people last night in connection with an alleged insider dealing ring.

Five men and one woman aged between 27 and 34 were arrested after searches were carried out at eight

London

and

Essex

addresses, according to the Guardian newspaper. Those arrested have not been named.

In recent months, the FSA has stepped up its attempts to tackle market abuse and has been working more closely with the City of

London Police

’s economic crime directorate.

The FSA has previously admitted that insider dealing could have taken place ahead of a quarter of all takeovers in 2005 and that there was “unusual and unexplained” movements in share prices of companies in the run up to a third of takeover announcements in 2007.

 

Leave a comment