FSA Said to Review Credit-Default Swaps in Market Abuse Probe

The U.K. Financial Services Authority started a market-abuse probe into trading of credit-default swaps on corporate debt, according to four people familiar with the investigation.

The regulator requested information from market participants to determine whether there’s been insider trading involving the financial products, said the people, who declined to be identified because the investigation isn’t public. Last month, U.S. prosecutors said they would step up probes of possible fraud involving credit default swaps and collateralized debt obligations.