The UK’s Financial Conduct Authority has today issued this warning notice in relation to alleged spoofing between June and July 2016 by three traders at the same bank. The traders are alleged to have placed orders on one side of the book with the intention of cancelling them (“misleading orders”), to benefit orders placed on the other side (“genuine orders”). The notice alleges that the traders worked together to achieve the abuse (with some traders placing the misleading orders and others the genuine orders).

The traders and their employer are not yet named. Should the decision stand, a Decision Notice will be issued by the FCA at a later date. This article on the Bloomberg site discusses the notice.