Market abuse & insider dealing

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  • Well, what did you expect? Company Communications after Marconi Restricted access

    Article

    Last Reviewed: 11 February 2005 / Submitted: 18 August 2003

    An article highlighting the implications for listed companies of the recent FSA statement in relation to Marconi plc.

  • Market Abuse: Breach of Listing Rules: Shell Restricted access

    Article

    Last Reviewed: 10 February 2005 / Submitted: 29 September 2004

    The Financial Services Authority has fined the Shell Transport and Trading Company, Royal Dutch Petroleum Company and the Royal Dutch/Shell Group of Companies £17 million for market abuse and for breaching the Listing Rules. This is the highest fine that the FSA has ever imposed. The US Securities and Exchange Commission has also confirmed a US$120 million (£65 million) penalty against Shell and both regulators have hinted that more action may follow against individuals.

  • FSA: Market Abuse: OFEX Restricted access

    Article

    Last Reviewed: 10 February 2005 / Submitted: 31 August 2004

    The Financial Services Authority has issued its first fine for market abuse on OFEX, a share-trading market that enables OFEX member firms to deal in securities of companies that are not traded on the London Stock Exchange.

  • FSA fine head of communications for market abuse Restricted access

    Article

    Last Reviewed: 10 February 2005 / Submitted: 11 August 2004

    The FSA has fined Peter Bracken, the former group head of communications at Whitehead Mann Group Plc, £15,000 for market abuse. This is the second time that the FSA has fined an individual for market abuse.

  • MAD: UK Implementation Restricted access

    Article

    Last Reviewed: 10 February 2005 / Submitted: 25 July 2004

    HM Treasury and the Financial Services Authority have issued a joint consultation document setting out their proposals for the implementation of the Market Abusive Directive in the UK.

  • Market Abuse Directive: Second Set of Level 2 Implementing Measures Adopted Restricted access

    Article

    Last Reviewed: 10 February 2005 / Submitted: 31 May 2004

    On 29 April 2004, the European Commission adopted a second set of Level 2 implementing measures for the Market Abuse Directive.

  • FSA: Breach of Listing Rules: Censure and First Fine of Director of Listed Company Restricted access

    Article

    Last Reviewed: 10 February 2005 / Submitted: 30 April 2004

    The Financial Services Authority has censured Sportsworld Media Group PLC for failing to notify the market of changes in its business performance and expectations as to its pre-tax profits. It has also fined Sportsworld’s CEO £45,000. This is the first time that the FSA has used its statutory powers to fine a director of a listed company.

  • FSA: Market Abuse: False or Misleading Impression Restricted access

    Article

    Last Reviewed: 28 January 2005 / Submitted: 28 January 2005

    The FSA has fined Mr Robert Bonnier and Indigo Capital LLC for issuing materially inaccurate statements which created a false or misleading impression amounting to market abuse.

  • FSA: Market Abuse: Fines for Misuse of Information and Abusive Dissemination of Information Restricted access

    Article

    Last Reviewed: 26 January 2005 / Submitted: 26 January 2005

    The FSA has fined two individuals for market abuse - one for misuse of information and the other for disseminating price sensitive information. This is the first time the FSA has fined an individual for abusive dissemination of information.

  • Market Abuse Directive: Consultation on Market Abuse, Level 3 Restricted access

    Article

    Last Reviewed: 02 December 2004 / Submitted: 02 December 2004

    CESR has issued preliminary guidelines to encourage a common approach to implementation of the Market Abuse Directive.

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