The Financial Conduct Authority (FCA) only investigated a handful of the insider dealing tip-offs it received in 2018, despite receiving over 5,000, a freedom of information (FOI) request from law firm Greenberg Traurig found.
Last year, the FCA received 5,107 tip-offs under the Suspicious Transaction and Order Report regime, though it only launched probes into 61 of the cases, City A.M. reported.
An FCA spokesperson responded, claiming that the figures were “misleading”, stating that they failed to indicate false positives, duplicate reports, and reports about overseas misconduct without UK relevance.
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