On January 25, 2012 Financial Services Authority (FSA) published that authority has decided to fine David Einhorn, owner of the prominent US hedge fund Greenlight Capital Inc, and his fund £7.2 million for engaging in market abuse in relation to an anticipated significant equity fundraising by Punch Taverns Plc in June 2009. On 9 June 2009, Einhorn was a party to a telephone conference in which it was disclosed to him by a corporate broker acting on behalf of Punch Taverns Plc that Punch was at an advanced stage of the process towards a significant equity fundraising. This was inside information and Einhorn should have appreciated this.

The original article can be found at Financial Services Authority .