Regulators believe insider dealing may be involved in almost a third of takeover bids in the UK.
The Financial Conduct Authority (FCA) has revealed signs of suspicious activity were detected surrounding 30.3% of takeover bids in 2023.
However, that figure is down from 35.3% in 2022, The Times reports.
Employing new methods to calculate its data, the FCA has found illegal activity has, for a number of years, been more prevelent than previously thought.
Its new system eliminates flaws in the way it previously identified red flags.
After including suspicious share-buying activity on the actual day that bid announcements are later made, the rate of suspect cases has risen from about 20% of takeovers to more than 30%.
FTSE 100
The UK's flagship share index, the FTSE 100, was down 23 points at 8,310 shortly after opening this morning.
Brent crude oil futures were up 0.26%, trading at $72.06 a barrel.
Companies reporting today
Ashtead Group* | Q2 Results |
Moonpig Group | Half Year Results |
NCC Group | Q1 Results |