Reuters report that the UK’s Financial Conduct Authority says that 15.1% of mergers in 2013 were preceded by suspicious share price moves. That’s up from 14.9% the prior year but well below the 30% level seen in 2010.
The details come from the FCA’s annual review
The FCA is also under pressure from MP’s to start a probe into stock price manipulation that could be greater than the LIBOR scandal as reports come out that stock traders manipulate the closing prices to boost profits and bonuses.
And if that wasn’t enough there are calls for them to look into claims that stock advisers of flotations have been putting unfair pressure on analysts to hike prices
