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FCA tells firms to check surveillance systems monitoring homeworking traders

The FCA said despite 'operational challenges' it still expect traders to comply with all market abuse regulations

Wednesday, 27 May 2020 at 12:42

The UK’s financial watchdog wants financial firms to review their market surveillance system to check if they can detect suspicious transactions while traders work from home during the pandemic.

The Financial Conduct Authority  encouraged “a particular focus on maintaining robust market surveillance and suspicious transaction and order reporting by relevant market participants" in its 27 May Market Watch newsletter. The FCA made the call for scrutiny "in the context of changes in market conditions and the current use of alternative working arrangements”.