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FSA prepares crackdown on market abuse

Regulator will begin spot checks of firms’ reporting systems to review compliance with the rules

The Financial Services Authority is to mount spot checks on UK trading firms for the first time as part of its escalating crackdown on market abuse and insider trading.

The regulator is to demand details of how firms report trades executed on their own account and on behalf of clients, which it will then study for evidence of market abuse.

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