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Appeal tribunal confirms £8 million market manipulation fine

Katten Muchin Rosenman LLP
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United Kingdom
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February 1 2013

On January 28, the Upper Tribunal (Tax and Chancery Chamber) upheld the decision of the Regulatory Decisions Committee (RDC) of the UK Financial

Former corporate broking managing director fined £350,000 for inside information disclosure

Katten Muchin Rosenman LLP
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United Kingdom
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February 17 2012

On February 16, following on from the disciplinary actions against David Einhorn, Greenlight Capital, Alexander Ten-Holter and Caspar Agnew reported in the January 27, 2012 and February 3, 2012 editions of Corporate and Financial Weekly Digest, the UK Financial Services Authority (FSA) published a further final notice and announced that it had imposed a fine of £350,000 (approximately $550,000) on Andrew Osborne, a former Corporate Broking Managing Director of a major investment bank, for engaging in market abuse by improperly disclosing inside information ahead of a significant equity fundraising by Punch Taverns Plc (Punch) in June 2009

FSA fines compliance officer and trader in connection with market abuse case

Katten Muchin Rosenman LLP
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United Kingdom
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February 3 2012

Following on from the disciplinary actions against David Einhorn and Greenlight Capital as reported in the January 27, 2012 edition of Corporate and Financial Weekly Digest, the UK Financial Servcies Authority (FSA) published final notices against two more individuals: Alexander Ten-Holter (a trader and former compliance officer at Greenlight Capital (UK) LLP) and Caspar Agnew (a trading desk director at JP Morgan Cazenove

David Einhorn and Greenlight Capital Inc. fined £7.2m for insider trading

Katten Muchin Rosenman LLP
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United Kingdom
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January 27 2012

On January 25, the UK Financial Services Authority (FSA) announced the imposition of penalties totaling £7.3M (approximately $11.5M) on David Einhorn and Greenlight Capital Inc. (Greenlight), for market abuse in June 2009 in relation to trading in equities of Punch Taverns plc (Punch

FSA fines and bans hedge fund manager's compliance officer

Katten Muchin Rosenman LLP
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United Kingdom
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December 9 2011

The FSA has published the final notice it has issued to Dr. Sandradee Joseph, the former compliance officer of hedge fund manager Dynamic Decisions Capital Management Ltd (Dynamic) (a hedge fund management company

European Commission publishes proposals for revised market abuse directive

Katten Muchin Rosenman LLP
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European Union, United Kingdom
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December 9 2011

The European Commission has published its proposals for the revision of the Market Abuse Directive (20036EC) (MAD

FSA imposes £8 million market abuse fine

Katten Muchin Rosenman LLP
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United Kingdom
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September 16 2011

On August 31, the UK Financial Services Authority (FSA) announced an £8 million (approximately $12.6 million) fine on Swift Trade Inc. (Swift Trade), a Canadian company that is not FSA authorized or regulated, for market abuse in the form of “layering.”

Fund manager CEO and CFO fined and banned for misleading investors and market abuse

Katten Muchin Rosenman LLP
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United Kingdom
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August 19 2011

The Upper Tribunal (Tax and Chancery Chamber) has published its decision in Michiel Visser and Oluwole Fagbulu v. FSA

FSA fines willis limited £6.895 million for anti-bribery and corruption systems and controls failings

Katten Muchin Rosenman LLP
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United Kingdom
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July 22 2011

The UK Financial Services Authority announced on July 21 that it had fined Willis Limited £6.895 million (approximately $11.2 million) for failings in its anti-bribery and corruption systems and controls

FSA publishes financial crime measures

Katten Muchin Rosenman LLP
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United Kingdom
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June 24 2011

On June 27, the UK Financial Services Authority (FSA) published a financial crime consultation paper (CP1112 Financial Crime: A Guide for Firms) which proposes a new FSA guide designed to help firms reduce the risk of their businesses being used to facilitate financial crime, as well as other anti-financial crime measures