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Article: Iceland: now FSA launches inquiry.
- Article from:
- The Mail on Sunday (London, England)
- Article date:
- August 5, 2001
- Author:
CopyrightCOPYRIGHT 2001 Solo Syndication Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: BEN LAURANCE;DAN ATKINSON
FOOD retailer Iceland faces a new inquiry - this time by the City's powerful watchdog, the Financial Services Authority.
Financial Mail disclosed last month that the Department of Trade and Industry has launched an inquiry to discover whether there had been insider dealing in the company's shares.
The investigation followed the controversial sale of [pound]13.5 million worth of shares by company founder Malcolm Walker last December, just a month before Iceland issued a profits warning.
Iceland's share price subsequently collapsed.
And this weekend it emerged that the FSA is also carrying out ...