Jamie Symington has spoken on market conduct and FSA's fight against market abuse. He focused on how FSA is working to change the culture of firms, individuals and the regulatory environment. He explained how FSA plans to find and take firm action against perpetrators of market abuse. It will also take action where it feels firms and individuals have not done enough to identify market abuse risks and act on their findings. Finally, it will use the lessons it has learned to educate the industry more on how to prevent market abuse. He noted FSA has brought slightly fewer civil actions as it increases criminal prosecutions and said FSA will not be put off its stride by acquittals in criminal proceedings. He also noted the increase in actions relating to market manipulation as opposed to insider dealing. He said the Financial Conduct Authority (FCA) will continue FSA's fight against market abuse and to strive to change the culture that allows it. (Source: FSA Speaks on Market Behaviour)
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