FSA has written a “Dear Compliance Officer” letter setting out the “cold-shouldering” of three individuals who had attempted to circumvent The City Code on Takeovers and Mergers, and explaining what the new “ZEN” reporting system will allow FSA to do. The letter tells firms to look at FSA’s publications on reporting mechanisms so they are ready to comply with the requirements of the new system. (Source: Dear Compliance Officer Letter on Market Abuse)