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FCA: Market Conduct and Transaction Reporting Issues

The most recent FCA  newsletter on market conduct and transaction reporting issues, Market Watch 65, covers how the inappropriate handling of information requirements can compromise market abuse investigations. In addition, the document highlights data quality issues found on transaction reporting under the Markets in Financial Instruments Regulation.

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FCA seeks to fine and ban CEO for market abuse

The Financial Conduct Authority (FCA) has published this week a decision note about the CEO of Worldspreads (WSL), Conor Foley. The FCA is seeking to fine Mr Foley for market abuse and ban him from working on regulated activities. The decision note was published on July 7 but follow an investigation that started in 2012. The FCA accuses the executive of committing market abuse by disseminating false information and manipulate transactions.

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The FCA's Capabilities to Detect Market Abuse

Mark Steward, Executive Director of Enforcement and Market Oversight at the FCA recently gave a speech on market integrity. In his speech, Mark Steward discussed the importance of firms having a smart market abuse risk assessment to comply with MAR, regulatory challenges and capabilities to detect market abuse.

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