FCA Welcomes Decision On Fine For Broker's Market Abuse
Law360, London (April 10, 2019, 6:59 PM BST) -- The Financial Conduct Authority has applauded the decision by the Upper Tribunal to back its decision to fine a U.K. broker that failed to directly monitor trades for possible market abuse £400,000 ($522,550), in a decision notice published Wednesday.
The Upper Tribunal rejected an appeal filed by London-based Linear Investments Ltd. challenging the fine after an investigation by the regulator found multiple surveillance failings in a judgment Tuesday.
On Wednesday Mark Steward, the FCA's executive director of enforcement and market oversight, welcomed the decision.
"Firms are expected to play their part in tackling market abuse by ensuring that they are able...
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