FSA Insider Dealing Charges

FSA Announce New Insider Dealing Prosecution


The FSA have announced that they have commenced prosecution of another insider dealing case.  Given the number of defendants charged and the counts this appears to the largest FSA prosecution to date.

Sarah Wallace and John Milner of Irwin Mitchell successfully acted for one of the individuals caught up in the investigation called Operation Saturn but who will not be prosecuted by the FSA.

Sarah Wallace, Partner in the Regulatory & Criminal Investigations Group said:

"The FSA Enforcement & Financial Crime Division are operating at an all time high with the increasing number of criminal insider dealing investigations being commenced and now prosecuted.  Many of the investigations that are now in the public domain will have been in the pipeline for many months and even years.

"This case looks as if it will be the largest insider dealing prosecution to date. The FSA has recently stated that it will aggressively pursue criminal prosecutions such as insider dealing and unauthorised business.  I expect that more criminal investigations and prosecutions not only of insider dealing will be brought by the FSA, with the FSA no doubt working in conjunction with other agencies."

If anyone has any queries relating to the issues in this article, FSA insider dealing investigations or the FSA approved person application regime, then please contact Sarah Wallace on 020 7421 3883 or sarah.wallace@irwinmitchell.com.