MARKETS & INVESTING | Staff Reporter, Hong Kong

SFC criticises Fidelity Worldwide Investment

And it has done so publicly with regard to Takeovers Code breaches.

SFC said that between 23 May 2011 and 1 June 2011 Fidelity Worldwide Investment executed 29 trades in Little Sheep shares and failed to make public disclosure of these dealings as required by the Takeovers Code.

Meanwhile Fidelity Worldwide Investment has accepted that it breached the Takeovers Code and consented to the disciplinary action taken against it. SFC said, “Since the breaches came to light, Fidelity Worldwide Investment has implemented a number of measures to ensure future compliance with the Takeovers Code.”

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