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FCA fines and imposes prohibition order on trader for market manipulation

The UK Financial Conduct Authority (the FCA) has fined a trader for committing market manipulation under the Market Abuse Regulation (596/2014) (MAR). It also issued a prohibition order banning the trader from performing any function in relation to any regulated activities carried on by an authorised or exempt person, or exempt professional firm.

This is the second case where the FCA has taken enforcement action against an individual for committing one of the three substantive offences under MAR, namely insider dealing, market manipulation and unlawful disclosure.

For our insights in relation to this case, please click below.