Trading

FCA warns of insider trading risk at corporate brokers

City watchdog takes aim at smaller brokers for ‘unacceptable’ breaches of personal dealing policies

The Square Mile has been told to keep a keener eye on potential market abuse
The Square Mile has been told to keep a keener eye on potential market abuse Photo: Getty Images

The Financial Conduct Authority has warned of “ongoing breaches” of policies used by smaller corporate brokers to prevent insider trading.

The City regulator saw shortcomings in how inside information about clients was handled as it reviewed firms that provide advisory and corporate broking services to small and mid-cap companies.

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