FSA moves to silence false market rumours

Firms should always source the origin of information, it says, and never give it unnecessary credibility or embellishment. It follows an investigation earlier this year into trading in Halifax Bank of Scotland (HBOS) following a sharp fall in its share price. The FSA has since carried out a number of interviews with managing directors and staff of firms to find out their practices regarding market speculation. It says it understands the role rumours play in the money markets, adding they are often "legitimately" circulated for a number of reasons, including in an attempt to understand...