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Thursday, 16th October 2008

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No action after bank bear raid



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Published Date: 23 June 2008
AN investigation into alleged market abuse in the trading of HBoS shares will not result in any action being taken, it has been reported.
The FSA's examination centred on a "bear raid" on HBoS, and was sparked after the bank's shares dropped 17 per cent on March 19.

It was suggested that traders made hundreds of millions of pounds by spreading false rumours about the bank, to drive the share price down and buy at the lower cost.

The FSA was reportedly unable to uncover enough evidence to bring action against any individuals.





The full article contains 99 words and appears in Edinburgh Evening News newspaper.
Page 1 of 1

  • Last Updated: 23 June 2008 12:26 PM
  • Source: Edinburgh Evening News
  • Location: Edinburgh
  • Related Topics: Halifax Bank of Scotland
 
 

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