Market Manipulation

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The 7 Deadly Sins of Market Abuse (Part II): Improper Disclosure

Part II of our series of the 7 Deadly Sins of Market Abuse looks at the offence of Improper Disclosure. This is the case when an insider discloses inside information to another person other than in the proper course of the exercise of employment, profession or duties according to the Financial Services and Markets Act …

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The 7 Deadly Sins of Market Abuse (Part I): Insider Dealing

As described in our introductory article on Market Abuse (“What is Market Abuse?”) and the regulatory framework in the UK, the behaviour that constitutes Market Abuse can be classified in two categories, abuse of information or market manipulation. These in turn have three respectively four sub-categories of behaviour, making it 7 categories, or better, the …

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Australian regulator accuses bank of rate fixing

The Australian Securities and Investment Commission (ASIC) has today commenced legal proceedings in the Federal Court in Melbourne against the Australia and New Zealand Banking Group Limited (ANZ) for unconscionable conduct and market manipulation in relation to the ANZ’s involvement in setting the bank bill swap reference rate (BBSW) in the period March 2010 to May …

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FCA fines former Head of JP Morgan’s CIO International £792,900 for failing to be open and co-operative

The Financial Conduct Authority (FCA) has today fined Achilles Macris £792,900 for failing to be open and co-operative with the Authority. Mr Macris was Head of CIO International for JPMorgan Chase Bank, N.A. in London. In the role he was responsible for a number of portfolios, including the synthetic credit portfolio, at the time of …

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The 7 Deadly Sins of Market Abuse: Part I – Insider Dealing

As promised we are trying to shed some more light on the specifics of Market Abuse and have therefore started our new series of articles about the categories of behaviours that constitute Market Abuse. The series is called “The 7 Deadly Sins of Market Abuse” and in its first instalment we look at Insider Dealing …

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FINRA's 2016 Focus on Supervision, Liquidity and Securities Firms' Culture

The Financial Industry Regulatory Authority (FINRA) today released its 2016 Regulatory and Examination Priorities Letter highlighting three broad issues – supervision, risk management and controls; and liquidity. The letter also emphasizes firm culture, conflicts of interest and ethics, and the significant role each of these plays in the way a firm conducts its business. FINRA …

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