Showing posts with label criminal penalty. Show all posts
Showing posts with label criminal penalty. Show all posts

Friday 12 June 2015

UK clamps down on markets after trader scandals


From The Business Times –

“Britain announced plans to clamp down on abuse in financial markets on Wednesday after a string of scandals that sullied the reputation of the financial system and have so far cost banks US$19 billion in fines.

Under the proposals, criminal penalties currently in place for insider trading in shares would be extended to fixed-income, currency and commodity (FICC) markets with jail sentences for offenders lengthened to up to 10 years.

So-called "rolling bad apples" or individuals who are fired from financial firms would no longer be able to move to another job without their new employer knowing about their history.”

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