Tuesday, 23 February 2016

FCA (Financial Conduct Authority) to hand out Spankings

I say that tongue in cheek of course but my husband was amused when he read it online. It's too long to go into the whole explanation, it's in the link, but in short, and anyone who's into stocks and shares will know this, there are certain rules governing conduct amongst the professional denizens of that particular jungle and they are 'policed' by the FCA.

One big no-no is insider trading. It can be imprisonable depending on its scale and nature. Well apparently an adviser (an attractive female it would seem) working for one of the adviser companies let the cat out of the bag about a certain company's results coming out this week which were definitely going to be good. Naughty. I'll quote from the website which reported the story:-  

...That is a bit harsh on poor Susie but I note that Goldplat shares gained ground last week closing at a year high of 5p. If some folk know that the results are going to be fabbo and know because Susie tells them so - having clearly seen the numbers - and can buy the shares whilst the rest of us are unaware of how fabbo the results are going to be and so sell in ignorance, there is a problemo. It does appear there is no caveat on Susie's emails making folks insiders and so this is indeed a breach of securities laws in the UK.

Frankly this is a relatively trivial breach and Susie - who is a nice PR bird - has not made a personal gain. If the FCA panned poor Susie while real crims get away with serious offences that would be a travesty.

But, notwithstanding that, the law does appear to have been broken and as such Susie does need a good bottom spanking from the FCA at the very least.

Needless to say the bit that caught my husband's eye, and made him laugh, was the highlighted bit in the last sentence. He thought it would be a good way of dealing with minor dolly bird offenders whilst sending the really big offenders (of which there are many says my husband) to jail.
Sounds sensible to me:)

Have a good week.



PK Corey said...

There are so many minor violations in the world that should be handled this way.

Ella said...

If I am not mistaken, this very crime is what sent Martha Stewart to the Clink here in the States. Somehow, though, she seemed a bit more guilty than Susie. At least Susie didn't lie about the insider trading.

Seems like a luscious plot for a story, though.

Hugs Across the Pond,

Hermione said...

That does make a lot of sense. A spanking is much more cost-effective than jail time, and would save the taxpayers thousands. After all, you can buy paddles very cheaply on eBay.

Great story! Thanks for sharing.


MrJ said...

This must be England. ;-)

Leigh Smith said...

Makes sense to me. Thanks for sharing

Maggie Jordan said...

I think a lot of people deserve a good hard spanking instead of a jail sentence. Many would probably never make that same mistake twice!!

Red said...

Delightful way to solve minor problems. The FCA could even make money by having a bidding auction for the privilege of giving the spanking, and even broadcast it making more money (however, is it not illegal to now make spanking films in England..oh well, a trip to Paris should also be included.
bottoms up
thanks for the smile

DelFonte said...

Given how complicated fraud cases are in court, this would be much simpler to handle. Just line them up and spank away!

Baxter said...

I think all the mortgage brokers and analysts and stock brokers should have received a spanking after the carnage they caused back in 2008 before they went to jail. Oh that's right, not many actually went to jail, as many of them were kept on the job to untwist the stupid financial bs they made with derivatives and all that nonsense. Maybe everyone should receive spankings on a regular basis instead of performance reviews. the world might be different.


Minelle Labraun said...

I agree this would be a great story for you many authors here!!
Thanks Ronnie!

Cat said...

LOL Ronnie...a spanking would be a good way to handle minor infractions. Keep the jails clear for real criminals. ;) Thanks for sharing.

Hugs and blessings...Cat

ronnie said...

PK - Yep you are so right there. Thanks.

Ella - Oh yes a great plot for a story. Someone should write it:) Thanks.

Hermione - LOL. Certainly would save a lot. Thanks.

MrJ - Yep only in Britain. Thank you,

SG - My pleasure. Thanks.

Maggie - Most of the politicians need a good spanking. Thanks.

Red - That would be something:) Thank you.

Cat - Yes in my opinion there are too many minor offenders in jail. Thanks.


Katie said...

Hi Ronnie, :) I got a kick out of picturing the discussion with your hubby. Him reading and then having a good laugh about it all! Sounds like a good idea to me too! LOL! Many hugs,

<3 Katie