FCA Issues Warning Against Three Traders For Market Abuse
By Najiyya Budaly (September 10, 2021, 3:50 PM BST) -- The Financial Conduct Authority has accused three traders from the same bank of market abuse by placing orders that misled the market in the weeks before and after the 2016 Brexit referendum.
The City watchdog said in a warning notice published on Friday that an investigation into the traders' activity found that they allegedly broke the U.K.'s Market Abuse Regulation 2016 and Financial Services and Markets Act 2000. The FCA did not disclose the identities of the traders or the bank.
The traders misled the market by placing large orders on a trading platform for futures that they did not intend to...
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