Insider dealing reports to regulator jump 40%

Laura Miller
clock

There has been a 40% rise in reports by businesses of potential insider dealing to the Financial Conduct Authority (FCA), according to figures compiled by regulatory consultancy Bovil.

A total of 1,035 reports were made to the FCA this year, up from 739 the year before. Businesses have to make reports of any suspicious transactions as part of their regulatory obligations. The suspicious transaction reports that relate to "the misuse of information", or insider dealing, have increased rapidly over the last five years, according to research by Bovil. Bovill head of wealth management Mark Spiers said: "Financial services firms have responded to pressure from the FCA to improve their monitoring of suspicious transactions. "But despite the increase, potential insid...

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

The advice/guidance boundary review: More shades of grey?

The advice/guidance boundary review: More shades of grey?

'The feedback to the FCA is clear: rules are preferred to guidance'

Nina Cherry and Aneta Murdza
clock 09 April 2024 • 4 min read
Unauthorised director to hand investors £1.6m following FCA probe

Unauthorised director to hand investors £1.6m following FCA probe

Amount secured for investors by the FCA following High Court approval

Isabel Baxter
clock 04 April 2024 • 1 min read
Advisers sound positive note on LTA changes but flag need for support

Advisers sound positive note on LTA changes but flag need for support

The LTA will be abolished this week at the end of the tax year

Hope Coumbe
clock 02 April 2024 • 1 min read