The City regulator has ended its investigation into the short selling of HBOS shares despite repeated attacks on the bank that last week pushed its stock price below the level of a planned rights issue, The Guardian reports.
It is understood that the Financial Services Authority, which continues to believe some traders are abusing the system, has failed to piece together a case against individual firms for driving down the price of HBOS shares. A similar investigation into suspicious trades in Bradford & Bingley shares is also expected to draw a blank as the regulator struggles to establish enough evidence of a conspiracy among traders or an attempt to spread malicious rumours about some of Britain's high street banks. INVESTMENT BANKERS IN London are steeling themselves for more job losses as Citigroup an...
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