A Bloomberg investigation published last week revealed that hedge funds spent significant sums purchasing private exit polling data on the Brexit referendum in 2016 — and then used the information to short the pound, which experienced the largest drop on record. At least one pollster sold the same results to a private client that it later gave for free to Sky News to be aired after polling stations closed. Cue the outrage, including from UK lawmakers. Some might find the behaviour unsavoury, but it was almost certainly lawful. The broadcasting regulator, Ofcom, forbids broadcasters from reporting opinion polls on polling day; and it is a criminal offense to publish exit polls, which are based on information given by voters as to how they have cast their vote, before polls close on voting day. "Publication" is defined as making information available to the public at large or "any section" of it. What is meant by a "section of" the public has not been tested in the courts. However, it...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.