UK regulator urged to probe ex-Labour minister over alleged insider trading ties to Jeffrey Epstein.
The UK's Financial Conduct Authority (FCA) has been called upon by the Liberal Democrats to launch an immediate investigation into Peter Mandelson, the former Labour minister accused of leaking sensitive government information to convicted sex offender Jeffrey Epstein. The allegations have raised concerns that Mandelson may have profited from accessing market-sensitive material and potentially facilitated insider trading.
According to emails released as part of the latest batch of Epstein files, Mandelson shared confidential information with Epstein in the aftermath of the 2008 financial crisis. This included details on sensitive fiscal developments, such as a โฌ500 billion eurozone rescue deal, which were announced after hours and affected global markets.
Critics argue that sharing such information could have provided an unfair advantage to those involved, potentially leading to insider trading. The Liberal Democrats are urging the FCA to investigate whether Mandelson's actions constitute a criminal offence under insider trading laws, with penalties ranging from 10 years in prison for the most severe cases.
The allegations have sent shockwaves through Westminster, prompting Mandelson's resignation from the Labour party and his departure from the House of Lords. The Metropolitan police have already launched a separate investigation into Mandelson over allegations of leaking market-sensitive emails to Epstein.
As the FCA considers the Liberal Democrats' request for an investigation, concerns are being raised about the integrity of the UK's financial system and whether those in power are above the law when it comes to insider trading.
The UK's Financial Conduct Authority (FCA) has been called upon by the Liberal Democrats to launch an immediate investigation into Peter Mandelson, the former Labour minister accused of leaking sensitive government information to convicted sex offender Jeffrey Epstein. The allegations have raised concerns that Mandelson may have profited from accessing market-sensitive material and potentially facilitated insider trading.
According to emails released as part of the latest batch of Epstein files, Mandelson shared confidential information with Epstein in the aftermath of the 2008 financial crisis. This included details on sensitive fiscal developments, such as a โฌ500 billion eurozone rescue deal, which were announced after hours and affected global markets.
Critics argue that sharing such information could have provided an unfair advantage to those involved, potentially leading to insider trading. The Liberal Democrats are urging the FCA to investigate whether Mandelson's actions constitute a criminal offence under insider trading laws, with penalties ranging from 10 years in prison for the most severe cases.
The allegations have sent shockwaves through Westminster, prompting Mandelson's resignation from the Labour party and his departure from the House of Lords. The Metropolitan police have already launched a separate investigation into Mandelson over allegations of leaking market-sensitive emails to Epstein.
As the FCA considers the Liberal Democrats' request for an investigation, concerns are being raised about the integrity of the UK's financial system and whether those in power are above the law when it comes to insider trading.