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Suspicious trade reports double
THE FINANCIAL Services Authority has seen a jump in the number of City firms coming forward to report suspicious activities to the regulator.
The FSA has received around 100 suspicious transaction reports per month recently, around double the number it was processing a year ago.
The watchdog has encouraged financial services workers such as brokers and underwriters to blow the whistle on suspicious transactions, in its efforts to clamp down on insider dealing and market manipulation while toughening up compliance within companies. Earlier in the year it threatened firms with spot-checks.