FSA finds no evidence of insider trading in HBOS case

The FSA has dropped its investigation into insider trading of HBOS shares due to lack of evidence. ...

The FSA has dropped its investigation into insider trading of HBOS shares due to lack of evidence. In March shares in the bank fell 17% over the course of a day following rumours it was in financial difficulties. There was speculation that sharp drop in the share price was the result of unscrupulous traders spreading false rumours and then shorting the plummeting shares. The regulator said in a statement: “There is no doubt that false and damaging rumours were circulating about HBOS on 19 March and these would have had some impact on HBOS' share price. It is difficult, however, to say ho...