Richard Joseph Charged with Insider Dealing

Jack Humphrey, Regulatory journalist
January 13, 2012 /

The Financial Services Authority (FSA) has charged Richard Anthony Joseph, with eight counts of insider dealing and two counts of money laundering.

Joseph, who is 42 years of age attended City of London Magistrates Court today (Wednesday 11th January 2012). Joseph was sent for trial and will next appear at Southwark Crown Court on 6 March 2012. He is on conditional bail.

The charges follow on from the arrest of Joseph on 19 May 2010.

Insider dealing is a criminal offence that is punishable by a fine or up to seven years imprisonment.

Limited reporting restrictions apply under the Contempt of Court Act 1981. For full details please contact the Court.

The FSA has so far secured 11 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, Helmy Omar Sa’aid on 10 January 2011 and Rupinder Sidhu on 15 December 2011.

The FSA is currently prosecuting 15 other individuals for insider dealing.

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

Individuals with information about market abuse can call the FSA’s market abuse hotline on 020 7066 4900.

 

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