British finance minister outlines plans for whistleblower law

0 Comments | AFP, March, 2008

LONDON (AFP) — Finance minister Alistair Darling outlined plans on Friday to equip Britain's financial watchdog with powers to give individuals whistleblower protection in return for evidence in investigations.

Darling's proposals in an interview with The Guardian came just days after British bank Halifax Bank of Scotland was forced to deny market rumours that it faced liquidity problems when its shares slumped 17 percent at one point.

The Financial Services Authority (FSA) is to investigate and has said rumours about a handful of British financial institutions were "completely unfounded" and had sometimes been accompanied by short-selling.

"I can't allow us to get into a situation where people quite deliberately manipulate markets for personal gain and with...