Accused of laxity in recent years, the Constable of the British stock exchange and banks takes action. And hits hard. The Financial Services Authority (FSA) conducted yesterday in the arrest of six professionals from the City, after a commando operation, "the largest ever conducted in the context of a case of insider trading." The arrests come crown over two years efforts have gathered 143 of the FSA investigators and officers of a police unit attached to the Ministry of Interior.
London south-east England, computers and documents were seized sixteen addresses professional and personal. Of those arrested, one was working, according to the BBC, at Moore Capital, a hedge fund's most prominent in London guaranteed high risk personal loans .Two senior bankers from leading firms have also been arrested, said the FSA. These professionals are suspected of passing insider information to traders who have been through it, realize significant profits.
Earlier this month, the FSA had already ordered an ex-banker veteran Cazenove, broker to the queen. The UK intends to muscle its fight against market abuse. She plans to ask the firms in the City store and keep mobile phone conversations of some 16,000 employees.