Arrest Continues in FSA and SOCA Insider Dealing Probe

Jack Humphrey, Regulatory journalist
February 21, 2012 /

Authorities have continued their searches at one London business address and two domestic premises in London and Kent, leading to the arrest of a 44 year old man who was interviewed under caution at a London police station.

The suspect has been released on bail pending further enquiries.

The searches and arrest arise out of a complex insider dealing investigation which is being conducted by the Financial Services Authority (FSA) and the Serious Organised Crime Agency (SOCA).

A large number of business and domestic premises were searched in March 2010 and a number of individuals were arrested in the FSA’s largest ever insider dealing operation. They have been interviewed under caution and remain under investigation. In April 2011 further searches were conducted and a further arrest was made. The investigation is ongoing.

The FSA has so far secured 11 convictions in relation to insider dealing, convicting 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 and Rupinder Sidhu on 15 December.

The Financial Services and Markets Act 2000 gives the FSA powers to investigate and prosecute insider dealing, defined by The Criminal Justice Act 1993.

 

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