The FSA must suspend the trading of shares in Northern Rock to prevent fat cats making profits from the beleaguered bank, the Liberal Democrats have warned.
Acting leader of the Liberal Democrats, Vince Cable MP, has written to the FSA calling for share trading in Northern Rock to be suspended to prevent insider trading. The letter asked the chairman of the FSA, Sir Callum McCarthy, why he has not recommended trading is halted when most professional investors have seen information of the terms of sale in the bank that may not have been viewed by small investors. Vince Cable says: “The massive share speculation on Northern Rock in recent days, when it appears that many of the larger investors are privy to documents not in the public domain...
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
