Former Trading and technology editor

The UK's Financial Services Authority has handed one of its largest-ever fines to a now defunct Canadian trading firm for abusive trading techniques, in a clear sign that it is clamping down on computer-driven practices it regards as damaging to domestic markets.

The FSA today said it will fine Canadian trading firm Swift Trade £8m "for systematically and deliberately engaging in a form of manipulative trading known as layering". The trading occurred on the London Stock Exchange between January 2007 and January 2008, the regulator said.

Swift Trade faces £8m FSA fine for market abuse

The now defunct Canadian trading firm is hit with a hefty penalty for what the UK regulator describes as a "particularly serious case of market abuse"

Tim Cave

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Evelyn Partners’ private equity backers target NatWest and RBC for potential sale

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