FSA: more work needed on front line of market abuse

Laura Miller
clock

The Financial Services Authority (FSA) has said it plans more education of firms and invention to curb market abuse on the ‘front line' of financial services.

Speaking at an event in London, Patrick Spens, head of market monitoring at the FSA, which will become part of the Financial Conduct Authority (FCA), said the regulator expects firms to perform surveillance in as close to real time as possible to monitor orders and transactions. The warning was directed at trading platforms and investment firms, however the FSA has written to all firms which have the permission ‘arranging deals in investments' to remind them of their obligations under the Suspicious Transaction Report (STR) regime. Spens said some of the responses it received as part ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FCA enforcement to become 'assertive, proactive and intrusive'

FCA enforcement to become 'assertive, proactive and intrusive'

‘You can expect the regulator to take robust action where needed’

Isabel Baxter
clock 29 February 2024 • 2 min read
FCA: 'Huge opportunity for firms to shape the advice sector'

FCA: 'Huge opportunity for firms to shape the advice sector'

Kate Blatchford-Hick calls on firms to embrace the regulator’s proposals

Sahar Nazir
clock 09 February 2024 • 2 min read
New era for workplace pension governance as TPR overhauls practices

New era for workplace pension governance as TPR overhauls practices

The regulator’s long-awaited general code of practice has been published

Hope Coumbe
clock 11 January 2024 • 1 min read