UK's Financial Services Authority: Winterflood Market Abuse Tribunal Hearing Starts Today

The Financial Services Authority’s (FSA’s) market abuse case against Winterflood, the market maker, and two of its traders will be heard today before the Financial Services and Markets Tribunal.

Winterflood will argue that it did not intend to commit market abuse, while the FSA will contend that the market abuse regime covers non-deliberate conduct. Winterflood is not challenging the FSA’s factual conclusions or the penalty imposed.