British regulator has redoubled its commitment to market abuse detection
Britain’s Financial Conduct Authority has
pointed the finger at inter-dealer brokers for not generating
enough market abuse alerts in a speech where the watchdog
underlined its commitment to tackling illicit trading.
Speaking at a British Bankers’ Association
event on Tuesday, Patrick Spens, the head of market monitoring
at the British regulator, said the FCA wants the industry to
generate more Suspicious Transaction Reports (STRs) as these
are invaluable to the Authority’s efforts to
tackle financial crime.
"STRs are a mandatory requirement placed on the industry to
inform us (the FCA) of any suspicious, or potentially abusive
behaviour that you observe. When I use the word
'industry’ here, I am referring to all parts of
the trading chain.
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