What did Gordon Brown say about the scandal?

Gordon Brown called the alleged market leaks a “financial crime” and said the matter is serious for public trust. He also backed Keir Starmer’s integrity, while urging accountability. His stance increases pressure for a clear regulatory response and raises expectations that any wrongdoing, if proven, will face consequences.

Could the FCA open a formal insider trading probe?

Yes, the FCA could, but it is not guaranteed. The regulator typically starts with information gathering, then decides whether to open a formal case. Timelines depend on evidence and cooperation. Early public signals would include official statements or requests for information to firms and individuals.

How might UK markets react near term?

Headline risk can lift volatility in GBP, gilts, and financial stocks. A formal FCA step would likely intensify short‑term swings. Clear guidance from authorities could calm markets. Without a formal case, impacts may stay episodic and driven by news flow, rather than fundamentals or earnings data.

What should retail investors watch now?

Focus on FCA communications, Parliamentary scrutiny, and corporate updates on disclosure controls. Note any comments on Keir Starmer integrity, which shape political tone. Avoid trading off rumours. Size positions conservatively around expected news windows, and keep cash buffers for volatility, rather than relying on leverage.

Law and Government

February 8: Brown Backs Crackdown as FCA Pressed on Mandelson Insider Leaks

ByHuzaifa Zahoor February 8, 2026February 8, 2026

On 8 February, Gordon Brown called alleged market leaks tied to Peter Mandelson a “financial crime,” sharpening scrutiny of possible insider trading. Liberal Democrats urged the FCA to investigate, raising political and regulatory pressure. Any formal action could tighten market surveillance, lift compliance costs, and add near‑term policy risk for UK assets and sterling‑sensitive trades. We outline the legal framing, potential regulatory steps, and investor watchpoints as this develops. Gordon Brown’s stance and the Peter Mandelson investigation narrative also test messaging on Keir Starmer integrity ahead of key political moments.