Step Up Market Abuse Reports, UK Financial Services Body Tells Firms

By Najiyya Budaly (May 4, 2018, 1:01 PM BST) -- Financial services firms and trading venues should report suspicious activity that could constitute insider dealing or market manipulation to regulators "without delay," a U.K. financial services standards-setter said on Friday.

The Fixed Income, Currency and Commodities Markets Standards Board told firms in the sector to ensure they have surveillance systems in place and to educate their staff on how to identify market abuse. Businesses should also make sure they have formal procedures in place to deal with suspected abuse, the body, known as FMSB, said.

"Regulated trading venues and market participants who professionally arrange or execute transactions have a regulatory obligation to establish and maintain effective...

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