Inside information and “wall-crossing”: FSA enforcement and intent
Authors: Dixon, Ross; Querée, Nicholas
Source: Law and Financial Markets Review, Volume 6, Number 2, March 2012 , pp. 145-147(3)
Publisher: Hart Publishing
Abstract:On 12 January 2012, David Einhorn, an investment manager and part-time poker player, was stung with a £7.2 m fine from the UK Financial Services Authority (FSA) for insider dealing. In addition, the FSA has taken a series of related decisions fining a number of connected persons for their participation in or failure to report what the FSA found to be market abuse. In so doing, the regulator once again sent a clear warning to authorised persons who, even unwittingly, would chance their luck by trading off the back of sensitive information as well as those who would shut their eyes to risks of market abuse.
Document Type: Research Article
Publication date: March 2012
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