Bloomberg: U.K. Market-Abuse Reports Rise

April 28, 2020

Bloomberg are reporting that “Market manipulation is still on the rise in the U.K. even after a decade of crackdowns on schemes to rig foreign-exchange rates and other key benchmarks. And the coronavirus pandemic could make things worse.”

“Reports of suspected market manipulation made to the Financial Conduct Authority have increased by 23% since 2017”

 

This report supports the increased scrutiny the FCA has placed on the accuracy of transaction reporting. As the FCA mentioned in Market watch 59;

“Transaction reports are a critical part of our work to ensure that markets function well. We rely on their completeness and accuracy to identify and investigate potential instances of market abuse and to help protect and enhance the integrity of the UK’s financial markets.”