The FSA has fined a former research analyst £50,000 for making misleading and inaccurate disclosures to clients through Bloomberg instant messenger.
The regulator says Christopher Gower, who was employed by MF Global Securities Limited and MF Global UK Limited, gave the impression he had insider information regarding Enterprise Inns plc (ETI) and their efforts to get HMRC to approve a conversion to a Real Estate Investment Trust (REIT). Gower attended a meeting with the CEO of Punch Taverns plc on 7 May 2008, during which they discussed ETI's application, although the conversation concerned solely information which was in the public domain. However, following the meeting, he sent the following Bloomberg instant message to 14 clien...
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