Three arrested over insider trading claim - Business - Evening Standard
       

Three arrested over insider trading claim

Three men were arrested today under suspicion of insider dealing after an investigation by the Financial Services Authority and the City of London police.

The three suspects, all 38, were interviewed under caution and released on bail. The police searched four London properties in connection with the arrests but would not give further details.

The latest case is the fourth set of arrests for insider dealing in the City since 2008. The financial watchdog is prosecuting three further criminal cases for insider dealing, including Malcolm Calvert, a former Cazenove trader who stands accused of exploiting inside information about planned takeovers which Cazenove had lined up. The FSA said Calvert's trial was due to start on 15 February,

In the past the FSA has faced criticism for not stamping down on insider trading, and being unwilling to use its powers to prosecute criminal suspects.

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