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U.K. Regulator Charges Man With 8 Counts of Insider Trading

Jan. 11 (Bloomberg) -- Britain’s finance regulator charged Richard Anthony Joseph with insider trading and money laundering following his May, 2010, arrest for the crimes.

The Financial Services Authority said Joseph, 42, was released on conditional bail after a hearing in London today. He is scheduled to appear at a higher criminal court in March to face the eight counts of insider trading and two counts of money laundering, the regulator said in a statement.

Joseph, who is not approved by the FSA to hold a regulated position in Britain’s finance industry, faces as long as seven years in jail for insider trading, plus a fine if he’s found guilty.

The FSA, which prosecutes market abuse in the U.K., has at least two insider trading trials scheduled to begin in the first half of the year and another case awaiting a trial date.

Karen Roberts, a spokeswoman for Joseph’s law firm, Irwin Mitchell, didn’t immediately respond to a phone call or e-mail seeking comment. FSA spokesman Christopher Hamilton declined to comment further.

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

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