FSA had previously found Robin Chhabra, an analyst at Evolution Securities, and his friend Sameer Patel had committed market abuse. The individuals referred FSA’s decision to fine them £180,000 and £95,000 respectively and ban them from working in the financial services industry to the FSMT. However, once FSMT confirmed FSA’s findings of market abuse, they did not contest the penalty, so FSA has now announced it. (Source: FSA/PN/070/2010 and Final Notice)