U.K. Market-Abuse Reports Rise as Virus Poses Another Threat
- RPC lawyer says manipulation found during market turbulence
- Another law firm has said virus creates opportunity for abuse
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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, with a sharp jump in 2018 followed by a slight increase last year to 822 notifications, according to a study by London law firm RPC.