A 44-year-old man employed at Legal & General Investment Management has been arrested by the Financial Services Authority (FSA).
It is the regulator's ninth arrest in two years in connection with its largest operation against alleged insider trading, the Financial Times reports. The man is believed to have been a trader who worked at LGIM for several years. This latest arrest, of a City individual, is part of the FSA's investigation into deals spanning three years to 2010 in shares in companies including Paragon, Barclays, Scottish & Newcastle, National Express, Petrofac, Wolseley and Collins Stewart. In March 2010, more than 140 officers carried out dawn raids on 16 addresses across London and the south-eas...
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