Four arrested in FCA insider dealing investigation

Four individuals including three men aged 29, 51, and 56 and one women aged 25 have been arrested and are currently in custody to be questioned in connection with an investigation in to Insider Dealing and Market Abuse.

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.

Insider Dealing is a criminal offence that is punishable by a fine or up to 7 years imprisonment.

Notes to Editors

1. The FCA, and previously the Financial Services Authority, have secured 23 convictions in relation to insider dealing: Christopher McQuoid and James William Melbourne in March 2009; Matthew and Neel Uberoi in November 2009, Malcolm Calvert on 11 March 2010, Anjam Ahmad on 22 June 2010, Neil Rollins on 21 January 2011, Christian Littlewood and Angie Littlewood on 8 October 2010 and Helmy Omar Sa'aid on 10 January 2011,  Rupinder Sidhu on 15 December, and James and Miranda Sanders together with another individual in May 2012  and  Ali Mustafa, Pardip Saini, Paresh Shah, Neten Shah, Bijal Shah and Truptesh Patel on 27 July 2012, Thomas Ammann on the 13 December 2012, Paul Milsom on 7 March 2013 and Richard Joseph on the 11 March 2013.  Details of each case are available on this website.
2. The FCA is currently prosecuting 7 other individuals for insider dealing:
   

   Martyn Dodgeson	Trial date to be confirmed
   Andrew Hind	Trial date to be confirmed
   Benjamin Anderson	Trial date to be confirmed
   Iraj Parvizi	Trial date to be confirmed
   Richard Baldwin	Trial date to be confirmed
   Graeme Shelley	Trial date to be confirmed
   Grant Harrison	Trial date to be confirmed

3. The Financial Services and Markets Act 2000 gives the FCA powers to investigate and prosecute insider dealing, defined by The Criminal Justice Act 1993.
4. Individuals with information about market abuse can call the FCA’s market abuse hotline on 020 7066 4900.
5. On the 1 April 2013 the Financial Conduct Authority (FCA) became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA).
6. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
7. You can find more information about the FCA, as well as how it is different to the PRA.