Extract
Market Abuse and The Media.
Article by Grania Baird and Richard Shillito
Introduction The Financial Services and Markets Act 2000 ("FSMA") which came into force on 1 December 2001 involved radical reform of the regulation of the financial services industry in the UK. The Financial Services Authority ("FSA") became the single central authority for financial market supervision and regulation within the UK and was given extensive rule making, investigation and enforcement powers. Most significantly, the FSMA created a new market-abuse regime, a civil regime which supplements rather than replaces the existing criminal regimes for insider dealing and market manipulation and is designed to catch those market-abusers who have not been caught by existing legislation. The FSA investigation, which has led to confrontation with five national press org...See the full content of this document
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