involves people profiting by buying or selling shares using 'inside' information about a company that is not generally available to the ordinary investing public.
The FSA has the power to investigate and prosecute insider dealing
under the Financial Services and Markets Act 2000 and the Criminal Justice Act.
The move is a sharp shift for the FSA, which has long focused its "principlesbased" approach to regulation on working with firms to prevent market abuse and insider dealing
, shunning a confrontational approach.
Sally Dewar, managing director of wholesale and institutional markets, said: "Market misconduct, particularly in the form of insider dealing
and market manipulation is, put simply, cheating and reduces investor confidence in the UK markets.
In yesterday's report the FSA also published data on insider dealing
before a wider selection of price-sensitive announcements and said only two per cent of significant statements by FTSE 350 firms, or large and mid-sized UK companies, in 2004-05 were preceded by informed price movements.
EADS continued to be haunted by the crisis yesterday as French police raided its offices and those of shareholder Lagardere in a probe into alleged insider dealing
However, he has recently been cleared of any insider dealing
He was recently cleared of allegations of insider dealing
TYCOON George Soros went on trial yesterday for an alleged pounds 8million insider dealing
THE boss of Wirral-based Cooltrader says he was kept under a cloud while being investigated for alleged insider dealing
, but it did not affect his determination to grow his frozen food business.
As well as the possibility of insider dealing
, the Serious Fraud Office looked into how the frozen food supermarket chain, now part of the Flintshire-based the Big Food Group, had drawn up profit figures.
Mr Walker, who founded the company three decades ago, said: ``I never had the slightest doubt that I would be totally vindicated by any inquiry into alleged insider dealing
in Iceland shares in late 2000.