Reference Case Number: FOI8547
Freedom of Information: Right to know request:
Please can you tell me how many 'incidents' and 'cases' of suspected orderbook spoofing and/or layering have been referred into the FCA's Enforcement division in each of the following years?
- 1 April 2021 to PRESENT
- 1 April 2020 to 31 March 2021
- 1 April 2019 to 31 March 2020
- 1 April 2018 to 31 March 2019
- 1 April 2017 to 31 March 2018
- 1 April 2016 to 31 March 2017
For each year please provide the number of incidents referred, the number of cases against individuals referred, the number of cases against firms referred and the number of cases closed during the year as shown: (i.e. number of: Incidents, Cases referred (firms), Cases referred (Individuals), Cases closed – no further action, Cases closed – private action, and Closed – public fine/censure).
Please also provide the number of layering and spoofing cases against individuals and/or firms that were still open as at the date of this request.
Please note: An 'incident' should be considered as a particular event or connected series of events of alleged spoofing/layering that has been the subject of an FCA Enforcement investigation. A 'case' is the referral of a single firm or individual to Enforcement. One 'incident' may therefore result in more than one related 'case' being referred to Enforcement.
FCA response:
We have processed your email in line with the provisions of the Freedom of Information Act 2000 (FOIA).
For question 1, we can confirm we do not hold a record of the number of ‘incidents’ reported. However, the below table sets out the number of ‘cases' of suspected orderbook spoofing and/or layering that have been referred into the FCA's Enforcement division in the years requested:
| Year | Incidents |
Cases referred (firms) |
Cases referred (individuals) |
Cases closed no further action |
Cases closed private action |
Closed public fine/ censure |
|---|---|---|---|---|---|---|
| 1 April 2021 to PRESENT | Not held | 0 | 0 | 0 | 0 | 0 |
| 1 April 2020 to 31 March 2021 | Not held | 0 | 0 | 0 | 0 | 0 |
| 1 April 2019 to 31 March 2020 | Not held | 1 | 1 |
2 (Both cases were closed with no further action taken) |
0 | 0 |
| 1 April 2018 to 31 March 2019 | Not held | 0 | 0 | 0 | 0 | 0 |
| 1 April 2017 to 31 March 2018 | Not held | 1 | 1 |
1 (The case into the firm was closed with no further action taken) |
0 |
1 (The case into the individual was closed with a financial penalty. Please see link to Final Notice.) |
| 1 April 2016 to 31 March 2017 | Not held | 0 | 0 | 0 | 0 | 0 |
For question 2, we can confirm that the FCA currently does not have any ongoing investigations into firms/individuals that relate to spoofing/layering.