Written by Ulver
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Topics: FSA, spoofing

Saturday, 5 September 2009

image for FSA Warns against "Spoofing"
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LONDON (Monthly Cycle) - The Financial Services Authority said on Tuesday it will fine,suspend or kill operators involved in the practice known as "spoofing".

The warning follows a 35,000 pound fine imposed last year by the UK Regulator on an Estonian Grandmother.

Spoofing involves putting jokey comments on a web-site and creating a misleading impression of the Regulators as a bunch of feckless twats. It constitutes potential market abuse, an FSA spokesman told the cycle.

A spokeswoman for the FSA told The Cycle: "We are not just saying: 'We are watching you.' We are warning to stop and if they do not, we will take action,"

Prosecution would involve fines or suspensions, she said

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