Ex-BlackRock Manager’s Arrest May Give FCA Its First Big Fish
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The arrest of a former BlackRock Inc. fund manager may move the U.K. markets regulator from small-fry insider-trading cases to its first big fish after years of criticism for pursuing dentists and print-room workers.
The Financial Conduct Authority arrested Mark Lyttleton, who once ran a BlackRock fund with as much as 2 billion pounds ($3 billion) of assets in London on April 30, according to two people familiar with the case. That follows the arrests of managers at hedge funds in two unrelated probes this year.