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FCA cracks down on market abuse
The Financial Conduct Authority (FCA) is imposing bans and fines on former employees of spread betting business WorldSpreads. The company was quoted on AIM before its collapse in 2012.
Finance chief Niall O’Kelly was fined £11,900 after omitting ‘key information’ and adding ‘misleading’ details to a document ahead of its 2007 IPO and, alongside financial controller, Lukhvir Thind, falsifying annual accounts for the two years before it went bust. (TS)