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20 Mar, 2008

The FSA this morning issued a warning it will be investigating trading in UK financial shares in recent days.

It says there have been a series of unfounded rumours about UK financial institutions over the last couple of days, which have sometimes been accompanied by short-selling.

FSA wholesale and institutional markets managing director Sally Dewar says: "We will not tolerate market participants taking advantage of the current market conditions to commit abuse by spreading false rumours and dealing on the back of them.

"We remind market participants of the need to take extra care, in this market climate, to adhere to the market code of conduct."


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