The FSA has launched an investigation into trading in UK financial stocks after rumours led mortgage...
The FSA has launched an investigation into trading in UK financial stocks after rumours led mortgage bank HBOS to a record low. The authority said there had been a series of "completely unfounded rumours" about UK financial institutions in the London market over the last few days. "These have sometimes been accompanied by short-selling," said Sally Dewar, the FSA's head of wholesale and institutional markets. "We will not tolerate market participants taking advantage of the current market conditions to commit abuse by spreading false rumours and dealing on the back of them." HBOS fe...
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