UK Bankers Cheat Clients, Claim “Normal Market Practice”

fsa230In the UK, two senior bankers at Dresdner Kleinwort bank have been found guilty by the Financial Services Authority of cheating their clients.  Notably, however, the two men will receive no sanctions whatsoever after an industry panel appeared to credit their defense that the insider trading at issue was a “normal market practice.” Full details are available in this post on my Enforcement Action blog over at Compliance Week.