Upper Tribunal backs £400k FCA fine on Linear Investments

Penalty of £400,000

Sophie King
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"Firms are expected to play their part in tackling market abuse" - FCA's Mark Steward
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"Firms are expected to play their part in tackling market abuse" - FCA's Mark Steward

The Upper Tribunal has agreed with the Financial Conduct Authority's (FCA) decision to impose a £409,300 penalty on Linear Investments for its lack of effective monitoring of potential market abuse.

The FCA issued a decision notice on the firm in June 2018 after accusing it of breaching rules between January 2015 and August 2015. The FCA said Linear did not appreciate the need to undertake its...

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