Financial Services Industry
Industry: Email Alert RSS FeedFSA to investigate glitch at PR Newswire.
Financial News, May, 2002
Byline: Phillipa Leighton-Jones
PR Newswire, which was selected to provide company filings to the UK market last month, is to be informally investigated by the Financial Services Authority following a technical glitch which delayed sending price-sensitive news to investors. PR Newswire on Thursday sent information about the results of Shell and Telewest to Reuters several minutes before it went to the other newswires. It means investors using Reuters to read information were privy to, and could therefore act on, the information before investors who were not using Reuters screens.
PR Newswire said the problem arose due to a glitch in its electronic spooling system that resulted in information being sent to Reuters on time, but which delayed the same...
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