UK authorities make 6 arrests in Financial Services Authority’s largest insider trading probe
By APTuesday, March 23, 2010
UK officials arrest 6 in insider trading probe
LONDON — Britain’s financial regulator says six people have been arrested in what it described as its largest insider trading investigation to date.
A statement from the Financial Services Authority on Tuesday said two of the six are senior professionals in London’s financial district and that another worked for a hedge fund. No charges have been laid.
It says investigators believe inside information was passed on to traders either through middlemen or directly. Trades were based on the information, the statement says, and “significant profits” were made.
No other details have been released.
The investigation, carried out jointly with the Serious Organized Crime Agency, began in late 2007. Searches were carried out in London and across southeastern England.
