Part of the problem is that in DP17, the FSA did not institute any safeguards against abusive and aggressive shorting. And guess what this company has been doing?
The FSA are not investigating for nothing. Precisely the thing that the FSA feared might happen, seems to happen rather too often IMO when this company is the market maker. It's embarrassed the FSA enough, that they've been forced to move as fast as they can. The Press are watching, the politicians are watching, the public are watching.
I suspect that heads will roll, either for incompetence or miss-management. Not the sort of company that you want to invest in IMO, and who knows how much the FSA will fine them? Probably £12.9 million, seems to ring a bell some how!
Say goodbye to your bonuses guys!
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