COVID-19 Set To Create Wave Of UK Fraud, Graft Prosecutions

COVID-19 Set To Create Wave Of UK Fraud, Graft Prosecutions

April 25, 2020, Law360

Ian Hargreaves spoke with Law360 about an increase in market manipulation cases amid the COVID-19 pandemic. Mr. Hargreaves says, “The FCA will be looking very closely at markets and insider dealing to see if there are any trends and fluctuations that are unexplained. We will only see the outcome of that in several months or even several years' time.” He adds, “That could give companies the ammunition to think long and hard about how they account for their current position. Less reputable businesses could bury bad news now for the future because they might see the current crisis and the delay as a way of being creative with their accounting.”