The UK's Financial Services Authority (FSA) has cleared associates of business entrepreneur Philip Green over their purchases of shares in Marks & Spencer prior to Mr Green's takeover bid for the high street retailer.
According to reports, Tom Hunter and Simon and David Reuben were under investigation as part of the insider trading probe into M&S shares which also saw the firm's chief executive, Stuart Rose scrutinised and then exonerated.
The financial services regulator has reportedly written to the three men clearing them of any wrongdoing, although it has revealed that a formal investigation into institutional share trades made prior to the announcement of the takeover bid is continuing.
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