Release Date: 29th April 2018

To access the original FCA document, click here.

Summary

The Financial Conduct Authority (FCA) has issued a Decision Notice regarding Linear Investments Limited, imposing a fine of £409,300 for failing to organise and control its affairs responsibly to detect and report potential market abuse. This failure occurred from 14 January 2013 to 9 August 2015. Linear has accepted the facts and liability but has contested the penalty, referring it to the Upper Tribunal.

Reasons for the Fine:

Key Takeaways for Firms:

Conclusion

The FCA’s fine of £409,300 on Linear Investments Limited underscores the critical importance of robust internal controls and timely implementation of surveillance systems to detect and manage potential market abuse. Firms must ensure compliance with regulatory expectations to maintain market integrity and protect consumers.

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