On 1 February 2024, the FCA working with the National Crime Agency (NCA) conducted a major operation to arrest 3 London based individuals on suspicion of insider dealing, conspiracy to insider deal and money laundering linked to organised crime.
More than 38 FCA and NCA officers were involved in the operation at the 3 residential London properties. Several digital devices were seized in searches conducted by FCA investigators.
All 3 individuals were interviewed under caution by the FCA with 2 being released under investigation and one on unconditional bail.
On 13 February 2024, a fourth suspect, a 48-year-old man, was interviewed under caution and remains under investigation.
Steve Smart, joint executive director with responsibility for delivering enforcement and market oversight for the FCA, said:
‘Insider dealing poses a significant threat to the integrity of financial markets both in the UK and overseas. The FCA is committed to combatting organised criminal networks involved in this threat.
‘We work tirelessly, using our own sophisticated monitoring systems and specialist teams, to identify and disrupt people involved at each stage of these trading events from the insider leaking information, people who sell inside information to traders and brokers who facilitate access to the trading market.
‘Working with our domestic and international enforcement partners we will continue to use all the powers and tactics available to us to disrupt this threat.’
If you have information concerning insider dealing you can contact the FCA by phone on 0800 111 6768 or by using the FCA’s webform and pass information confidentially.
