In yet another ongoing FSA insider trading case in the UK, a former analyst at Evolution Securities denied this week that he passed inside information to a friend who went on to make at least 75,000 pounds ($123,000). On his cross-examination this week, he stated that the FSA’s case “makes no sense to me. Why would I distribute RINGA repeatedly and leave myself exposed?”
RINGA? If that term means nothing to you (as it did me), then check out the full story in this post on my Enforcement Action blog over at Compliance Week.