On June 14, the UK Financial Services Authority (FSA) published the final notice it had issued to Barnett Alexander, a trader and former private client stockbroker. The FSA fined him £700,000 (approximately $1,128,000) for market abuse and banned him from performing any controlled function in an FSA regulated firm.

Following receipt of a suspicious transaction report from another investment firm, the FSA became aware that Mr. Alexander was manipulating the price of certain shares traded on the London Stock Exchange. The firm identified examples of Mr. Alexander's trading strategy after carrying out an internal investigation, and reported the activity to the FSA. The FSA found that Mr. Alexander entered multiple buy and sell orders for equities using direct market access (DMA) services of a number of brokers, often using contracts for difference and spread betting accounts in third party names to disguise his actions.