A leading fund management group is believed to have sparked an investigation into insider dealing in HBOS shares immediately before last week's takeover plan, reports The Telegraph .
Standard Life Investments said yesterday that the news that the bank was being bought by rival Lloyds "came out inappropriately". "It is important that correct procedures are followed in future and we have ensured that this message has been received by those that need to know," a spokesman said. City watchdogs are expected to investigate huge profits made by speculators in two minutes of trading immediately before the bank's rescue was made public. THE LAST TWO INVESTMENT banks in the US, Morgan Stanley and Goldman Sachs, will become traditional bank holding companies after one of the m...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
