Morrison Employee Said to Be Arrested in Insider-Trading ProbeLindsay Fortado and Gabi Thesing
A 49-year-old employee at William Morrison Supermarkets Plc was arrested as part of a U.K. insider-trading probe, according to two people with knowledge of the case.
The man, detained yesterday in Harrogate, England, isn’t a member of the company’s management board, said one of the people, who declined to be named because the suspect hasn’t been identified by regulators.
The U.K. Financial Conduct Authority arrested a man with the help of police in North and West Yorkshire and executed a search warrant, the FCA said, without identifying who was detained.
Lara Joseph, a spokeswoman for the FCA in London, declined to comment. A spokesman for Bradford, England-based Morrison, also declined to comment on the arrests.
The arrest isn’t related to any previous FCA investigation, the regulator said. Insider dealing is punishable by a fine or as much as seven years in prison.