Loading...
See More

UK to monitor bankers' cellphones

Nov 12 2010 08:13 Sapa

Related Articles

US probes BP insider trading

Exec charged with insider trading

10 years for insider trader

EADS insider trading allegations

'Toughen up on insider traders'

Insider trading rife in China

 
London - Britain's financial watchdog says firms in the UK will be required to record cellphone conversations of their investment bankers and traders in a bid to tackle insider trading and market abuse.
 
The Financial Services Authority says existing rules requiring investment firms to tape all landline phone conversations and e-mails involving client orders or arranged transactions will extend to work cellphones starting next year.
 
The watchdog said Thursday the measure will provide an extra source of evidence to counter market abuse and promote cleaner markets.
 
Spokeswoman Sarah Bailey said the rule will only apply to business cellphones issued by firms, not personal ones. The messages will be stored for six months.
 
Firms that do not comply with the rule can be fined.
britain  |  insider trading
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Businesses, especially call centres, need mechanisms to monitor performance in real time to help improve individual performance within a team, says 1Stream boss.
 
 

LOL! 7 brutally honest texts from parents

Sometimes honesty is not the best policy!

 
 

For chic geeks...

DuckTales theme song gets 'quacked-up'
7 things you didn't know about Apple
Apple's sneaky move
Facebook testing self-destruction posts

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...