Financial Services Markets Act: Trading in shares in the company, once one of the biggest on London junior Alternative Investment Market , was halted on Wednesday morning, according to Euro News. The FCA said it has begun an investigation under the Financial Services and Markets Act 2000 into statements related to its accounts for 2013 and 2014. The insurance and personal injury claims processor has had a tumultuous year during which it has wrestled with questions over its revenue model and profit quality and seen its chairman quit over a stock deal. The FCA did not provide any further details, but said it would work with other agencies regarding the probe. The company stock has lost more than three-quarters of its value since its troubles began in April 2014. Quindell said in a statement it will fully cooperate with the investigation.
(news.financializer.com). As
reported in the news.
Tagged under Financial Services Markets Act, investigation topics.