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Ex-Altium Banker Charged With Insider Trading by U.K. Regulator

A former managing director at Altium Capital Ltd. was charged in an insider-trading ring and will face trial next year along with a former Deutsche Bank AG broker and four other men.

Grant Harrison was charged today with one count of conspiracy to commit insider trading, said Joseph Eyre, a spokesman for the Financial Conduct Authority. Harrison’s case was transferred to a higher criminal court for a hearing in September.

Harrison will be added as a defendant in the case against Martyn Dodgson, a former managing director at Deutsche Bank, a lawyer for the regulator said at a hearing last month. The case is scheduled to go to trial in September 2014 and last as long as three months.

The charges stem from the FSA’s biggest insider-trading investigation, known as Operation Tabernula, Latin for little tavern. The U.K. regulator arrested seven people and raided 16 addresses in London and southeast England in March 2010 as the FSA sought to crack down on insider trading among bankers and traders in London’s financial district.

Altium said in a statement last month that the allegations relate to a period when Harrison worked with a previous employer. Harrison’s lawyer, Gary Bloxsome, didn’t immediately respond to a call seeking comment.

Harrison joined Altium as a managing director and the head of public company business development in September 2011, according to a statement on the firm’s website from when he was hired. He previously worked for Lloyds Banking Group Plc in its equity capital markets business, and for a Panmure Gordon & Co. unit.

Dodgson, who was employed by Deutsche Bank at the time of his arrest in 2010, as well as Andrew Hind, Benjamin Anderson and Iraj Parvizi were charged with “conspiracy to insider deal” between Nov. 1, 2006, and March 23, 2010, the regulator said in October. The agency alleges the men made more than 3 million pounds ($4.5 million) on improper trades.

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