UK regulator drops probe into ‘Essex Boys’ traders after they offer to pay £1mn to charity

United Kingdom

What to know

  • FCA concerned over possible collusion in group that reportedly made hundreds of millions of dollars betting on oilS1
  • A group of British commodity day traders have offered to donate £1 million ($1.3 million) to charity to close a UK competition probe that looked at whether the sharing of potentially sensitive information distorted markets.S2
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4mos Financial Times

UK regulator drops probe into ‘Essex Boys’ traders after they offer to pay £1mn to charity

FCA concerned over possible collusion in group that reportedly made hundreds of millions of dollars betting on oil

4mos Bloomberg

‘Essex Boys’ Oil Traders Make Charity Offer to End UK Regulatory Probe

A group of British commodity day traders have offered to donate £1 million ($1.3 million) to charity to close a UK competition probe that looked at whether the sharing of potential…

UK regulator drops probe into ‘Essex Boys’ traders after they offer to pay £1mn to charity

2 outlets 2 reports

What to know

  • FCA concerned over possible collusion in group that reportedly made hundreds of millions of dollars betting on oilS1
  • A group of British commodity day traders have offered to donate £1 million ($1.3 million) to charity to close a UK competition probe that looked at whether the sharing of potentially sensitive information distorted markets.S2
Timeline · newest first

Sources · 2 citations

S1 Financial Times 1 report · EN
S2 BloombergLead 1 report · EN