Eight million pound fine for Swift Trade upheld

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January 28, 2013 10:14 PM EST

A court has upheld the Financial Services Authority's eight million pound fine for Canadian trading firm Swift Trade, the watchdog's largest penalty for market manipulation.

"The Tribunal described this as being 'as serious a case of market abuse of its kind as might be imagined'," the FSA said in a statement on Monday.

(Reporting by Huw Jones, editing by Sinead Cruise)

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