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FSA makes arrests after insider swoop

The FSA week arrested eight people and executed search warrants across London and the South-east in a probe into insider dealing rings. The operation involved 40 FSA staff, assisted by officers from City of London Police.

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Absolute return funds take 214m

Investment Management Association figures show the absolute return sector took 214m in June. Equity funds saw redemptions of 371m, while bond inflows stood at 13m.

The case in point

FSA director of enforcement Margaret Cole noted recently that if firms settling cases stated publicly they did so for commercial reasons, the FSA might rethink the settlement process, saying those behaving in this way are guilty of “sour grapes”.

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