An indicator of insider trading ahead of U.K. takeover announcementsspiked in 2015, the Financial ConductAuthority said in its 2015-16 annual report published July 12.

Out of 69 takeover announcements in 2015, 13 saw abnormal pre-announcementprice movements, the FCA said.

The FCA's market cleanliness statistic, an indication of possibleinsider trading, stood at an annual average of 19% in 2015, up from 14% the yearbefore. But it was down from 30% in 2009.