Three bond traders appeal against FCA market abuse bans and fines

The FCA is proposing to ban and fine three traders from Mizuho International plc for market abuse carried out over two months through transactions involving Italian government bond futures.

By Neasa MacErlean

The three dispute the decisions and have appealed to the Upper Tribunal. If the court upholds the proposed actions then all three will be banned from performing any functions in relation to regulated activity; Diego Urra will face a £395,000 fine; and both Jorge Lopez Gonzalez and Poojan Sheth will receive £100,000 fines.