Market abuse: Is this a new era of FSA enforcement?

Recent high profile FSA enforcement actions have lent weight to the regulator's vow to police market participants more rigorously.

The £7.2m fine the FSA handed to David Einhorn and his hedge fund Greenlight Capital last week was a coup for the regulator, which had previously warned even high profile names are not immune from sanctions.   This week, meanwhile, the former UK CEO of J. C. Flowers, Ravi Sinha, was fined £2.87m and banned from working in UK finance for sending fake invoices to a company in which the private equity house had invested. While a more specialised case, and one unrelated to market abuse, the Sinha fine was again suggestive of an increased focus on prominent individuals. Figures from Rey...