The FCA has raised concerns about market abuse controls in place within the firms it regulated, warning that market manipulation, insider trading and other criminal behaviour could go undetected.
Speaking at the Association for Financial Markets in Europe on Wednesday (13 February), Financial Conduct Authority (FCA) director of market oversight Julia Hoggett revealed the regulator's "five Conduct Questions approach", which "helps regulated firms enhance the manner in which they conduct business". In August 2018, asset managers had been contacted by the FCA, which sent them a questionnaire examining their risk management procedures in reporting and preventing market abuse. It follows a 2015 paper, entitled Asset management firms and the risk of market abuse, which found "only a...
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