U.K. Finance Regulator Arrests Three in Insider Trading Probe

The U.K. finance regulator arrested three people in an insider trading investigation and searched premises in the northwest of England.

A 43-year-old man, 42-year-old man and a 35-year-old woman were arrested by the Financial Services Authority and local police in Lancashire and Cheshire and are in custody for questioning, the regulator said in a statement today. The searches of three locations took place this morning in Northwich and Rossendale.

The FSA, which hadn’t prosecuted insider trading before 2008, secured the longest-ever U.K. sentence for the crime a year ago when former Dresdner Kleinwort banker Christian Littlewood was imprisoned for 40 months after admitting illegal trading over a 10-year period, along with his wife and an accomplice.

To contact the reporter on this story: Lindsay Fortado in London at lfortado@bloomberg.net.

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net. ZLN <Equity>

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.