Arrests eight individuals as part of crackdown on insider trading rings
The UK’s financial services watchdog swooped on a number of City banks and arrested individuals suspected of involvement in insider dealing rings.
The Financial Services Authority (FSA) confirmed that it had arrested eight individuals and executed search warrants across London and the South East as part of a major ongoing investigation.
The operation provides the latest evidence of a tougher stance the regulator is taking to combat market abuse.
“The operation provides the latest evidence of a tougher stance the regulator is taking to combat market abuse.
On July 24, Malcolm Calvert, a former partner at Cazenove appeared in a Westminster Magistrates Court charged with using inside information to buy shares in companies that were the target of takeovers.
The latest operation involved 40 FSA staff, assisted by officers from City of London Police.