Wads of Cash to Burner Phones, Insider Trading Tops FCA Hit List
- FCA probes reach 10-year high, with largest case looming
- Regulator opened 70 insider-trading cases in 2016, data show
This article is for subscribers only.
From wads of cash exchanged in curry houses to late night calls on untraceable phones, insider trading never fails to generate headlines. And it looks like U.K. authorities may be gearing up for a few more after opening a record number of cases last year.
The Financial Conduct Authority started 70 insider-dealing investigations in 2016, more than double any other year in the last decade, according to data obtained through a freedom of information request by Bloomberg News. The largest number of cases previously opened in a 12-month period was 29 in 2012.