BusinessCorporate FinanceCompanies targeted by FSA put accountants on alert

Companies targeted by FSA put accountants on alert

Accountants for companies under investigation by the FRC advised to comply with City watchdog's insider trading probe

Companies subject to an investigation by the Financial Services Authority
over insider trading have told their accountants to comply with any requests
from the regulator.

The FSA has launched a crackdown on leaking price-sensitive information, the
Daily Telegraph reports, following concerns that confidential data was
being leaked to the press and advisers in the City before the rest of the market
was told.

One deal believed to be on the FSA’s radar is the tie-up between Pearl Group
and Resolution. The battle for Resolution saw a bitter fight between Friends
Provident, Standard Life and Pearl, before Pearl triumphed.

‘Combating market abuse is one of the FSA’s top priorities and we are
committed to working in partnership with the industry to reduce the incidence of
market abuse on the UK’s markets,’ director of markets Sally Dewar was quoted as
saying.

In 2006 the FSA published a report on market abuse and it is working on a
code of conduct for sectors it doesn’t regulate, such as public relations, on
protecting price-sensitive information.

Further reading:

Jim Smart to lead Friends review

Overview: Friends Provident faces battle for closed
funds

Related Articles

Grant Thornton recruits new corporate finance partner

Accounting Firms Grant Thornton recruits new corporate finance partner

10m Emma Smith, Managing Editor
Total fraud value at £2bn five-year high, finds BDO

Accounting Firms Total fraud value at £2bn five-year high, finds BDO

11m Stephanie Wix, Writer
MHA MacIntyre Hudson appoints corporate finance director

Accounting Firms MHA MacIntyre Hudson appoints corporate finance director

11m Stephanie Wix, Writer
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
KPMG announces senior partner promotion in Newcastle

Accounting Firms KPMG announces senior partner promotion in Newcastle

11m Stephanie Wix, Writer
Independent city firm reports 70% growth

Accounting Firms Independent city firm reports 70% growth

11m Stephanie Wix, Writer
Tax avoidance crackdown sees 80% jump in additional HMRC revenue

Accounting Firms Tax avoidance crackdown sees 80% jump in additional HMRC revenue

11m Stephanie Wix, Writer
Making Tax Digital: the "unexpected item in the bagging area"

Accounting Standards Making Tax Digital: the "unexpected item in the bagging area"

11m Stephanie Wix, Writer