Watchdog working wonders in market abuse crackdown
The UK's Financial Conduct Authority said suspicious share price moves ahead of mergers have fallen to a record low following its crackdown on market abuse.
The FCA, launched in April to take a harder line on financial crime, said yesterday that 14.9pc of mergers in 2012 were preceded by unusual market moves two days before the announcement.
This compares with 19.8pc in the 2011 financial year, itself the lowest since 2003, when data gathering began.
Unexplained moves are defined as anything outside a stock's normal movement. They are seen as an indication of possible insider trading.