27/02/2013

FSA Launch Investigation Into Insider-Dealing Allegations

The Financial Services Authority this morning launched a series of co-ordinated raids on the homes and offices of three finance industry workers following allegations of a new insider-dealing ring.

It is understood the as-yet-unidentified men, all in the their 30s, work in the City and are all FSA accredited.

It is not yet known which company, or companies, the three men work for.

A total of six searches in the City and Greater London area were carried out by the FSA in conjunction with Metropolitan Police officers.

In a short statement, the FSA said: "No further details can be confirmed at this time and no individuals have been charged. The arrests are not linked to any other ongoing insider dealing investigation."

(H)




Related UK National News Stories
Click here for the latest headlines.

19 January 2012
Direct Line & Churchill Fined £2M For 'Tampering'
High profile insurers, Direct Line and Churchill, have both been fined a total of £2.17 million after found to have been tampering with their complaints files. The Financial Services Authority (FSA) said it was imposing the fine for failure by the companies to conduct their businesses with "due skill, care and diligence".
20 August 2015
Investigation Launched After Death Of Woman Following Bus Fall
A woman has died in hospital after falling on a route E3 bus on Chiswick High Road, just after 13:30 on Tuesday, 18 August. The 77-year-old woman was taken to hospital by ambulance, where she was pronounced dead shortly before 17:00.
20 February 2012
FSA Secures €77,000 For Victims Of Boiler Room Fraud
The Financial Services Authority (FSA) has obtained a court order against Monobank Plc (Monobank) which paves the way for €77,000 (approximately £64,000) of redress to be paid to victims of a boiler room scam.
19 October 2009
FSA Sets Out Major Reforms For The Mortgage Market
The Financial Services Authority (FSA) today set out proposals for the major reforms required in the UK mortgage market to ensure that it works better for consumers and is sustainable for all market participants.
15 April 2005
Workplace racism is ‘damaging’ careers, TUC claims
Racism in the British workplace is “damaging” the career prospects of many black workers, the Trade Union Congress (TUC) has claimed. The TUC said that black workers get less training opportunities, although they are often better qualified than their white counterparts.