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ICOs, Tiny IPOs, & OTC Securities, Oh My...

In this shared blog from ViableMkts, the author examines the newest craze - ICOS, OTC Markets latest moves to bolster its business and help the marketplace and tiny IPOs.

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December 14, 2007

FSA Looks to Take a Bite Out of Crime

By Nina Mehta

The United Kingdom's securities industry regulator, the Financial Services Authority (FSA), will use Progress Software's Apama event processing platform to expand its fraud detection capabilities. FSA's new Surveillance and Automated Business Reporting Engine (Sabre II) is being built and managed by Detica, an IT services company, to perform two functions.

First, Sabre II will be used to monitor transactions reported to the FSA under the Markets in Financial Instruments Directive. Second, the FSA will use Sabre II to expand its effort to identify potential market abuse, including wash trades and insider trading. With Apama's software and analytical tools in hand, the regulator will be able to identify news leaks about impending takeovers, search for collusion between traders designed to generate trading volume in a stock, and so on.