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FSA secures High Court injunction to stop market abuse.
(From Fundweb)
Byline: Natalie Holt
The FSA has issued proceedings against UK registered but Swiss-based fund manager Da Vinci Invest, a related Singapore-based company Da Vinci Invest PTE and Mineworld, which is registered in the Seychelles.Individuals Szabolcs Banya, Tamas Pornye and Gyorgi Brad, all resident in Switzerland and/or Hungary who traded on behalf of those companies have also had proceedings issued against them.The FSA believes these companies and individuals have committed market abuse through a form of manipulative trading known as 'layering', which creates a misleading impression of the supply and demand of shares.The companies and individuals …
