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UK court upholds market-abuse sanctions against defunct trading firm

( December 19, 2013, 13:32 GMT | Official Statement) -- MLex Summary: The UK markets regulator was right to fine a defunct Canadian trading company, Swift Trade, for trying to manipulate share prices, the Court of Appeal ruled. The judgment rejected Swift Trade’s arguments that the contracts for difference — the type of derivative being used in the case — fell outside the law and that the company couldn’t be sanctioned because it no longer existed.The text of the statement follows. Click the attachment at the bottom to read the judgment....

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