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Ex-BlackRock Manager Gives FCA Big Win in Insider-Trading Fight

  • Mark Lyttleton pleads guilty to 2 counts of insider dealing
  • Regulator won two other high-profile convictions this year
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The U.K. Financial Conduct Authority ratcheted up another big win in its fight against insider trading Wednesday after Mark Lyttleton, a former BlackRock Inc. portfolio manager, was added to a growing list of high-profile financiers convicted over the crime.

Lyttleton pleaded guilty to two counts of insider trading in a London court after a third charge was dropped. He was accused by the FCA of insider dealing in relation to trading in shares of EnCore Oil Plc in October 2011 ahead of news about a proposed takeover and, a month later, call options in Cairn Energy Plc related to the discovery of oil in Greenland.