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FCA imposes fine of £8 million on Canadian trading firm Swift Trade for market abuse

  • Winston & Strawn LLP
  • -
  • United Kingdom
  • -
  • February 19 2014

Further to the 19 December 2013 decision of the Court of Appeal to uphold the FCA's findings as regards Swift Trade, the FCA has imposed its £8

Crime and Courts Act 2013 receives royal assent

  • Winston & Strawn LLP
  • -
  • United Kingdom
  • -
  • April 29 2013

The Crime and Courts Act 2013 (the "Act"), which contains provisions relating to economic crime, received royal assent on 25 April 2013. The Act

Crown court sentences trader to 13 years

  • Winston & Strawn LLP
  • -
  • United Kingdom
  • -
  • December 17 2012

On December 5th, the Serious Fraud Office announced that the Southwark Crown Court has sentenced former stockbroker Nicholas David Andrew Levene to 13 years in prison after he pleaded guilty to 12 counts of fraud, one count of false accounting and one count of obtaining a money transfer by deception

Crown court orders boiler room operator to pay £320,882

  • Winston & Strawn LLP
  • -
  • United Kingdom
  • -
  • December 17 2012

On December 7th, the Financial Services Authority announced that the Southwark Crown Court has ordered Michael McInerney to pay £320,882 for his role in a significant stock fraud against investors

Crown court sentences banker for insider dealing

  • Winston & Strawn LLP
  • -
  • United Kingdom
  • -
  • December 17 2012

On December 13th, the Financial Services Authority announced that the Southwark Crown Court has sentenced Thomas Ammann, an investment banker and former FSA Approved Person, to 2 years and 8 months imprisonment for two counts of insider dealing and two counts of encouraging insider dealing

Trader wins appeal of an FSA decision notice

  • Winston & Strawn LLP
  • -
  • United Kingdom
  • -
  • December 3 2012

The FSA issued a Decision Notice against David Hobbs, a proprietary trader at Mizuho International plc, in July 2010, for market abuse in instructing a broker to buy certain coffee futures in August 2007 (that broker, Andrew Kerr, was fined £100,000 by the FSA in June 2010 for engaging in market abuse

Conviction of investment banker for insider dealing

  • Winston & Strawn LLP
  • -
  • United Kingdom
  • -
  • November 19 2012

On 15 November 2012 the FSA secured a conviction against Mr Thomas Ammann in respect of offences dating back to 20089

Record sentence handed down in Sanders insider dealing case

  • Winston & Strawn LLP
  • -
  • United Kingdom
  • -
  • July 9 2012

On 19 June 2012 Mr. Justice Simon at Southwark Crown Court sentenced James Sanders, a director of the former UK brokerage firm Blue Index, to four years’ imprisonment after pleading guilty to 10 counts of insider dealing

Madoff-related developments

  • Winston & Strawn LLP
  • -
  • United Kingdom, USA
  • -
  • February 8 2010

A series of events occurred this week relating to Bernard Madoff's Ponzi scheme

The pitfalls of ADRs

  • Winston & Strawn LLP
  • -
  • United Kingdom, USA
  • -
  • January 4 2010

On December 29th, the D.C. Circuit affirmed the dismissal of a pension fund's derivative lawsuit as barred by English law