Schroders trader arrested in FSA insider dealing probe named

A Schroders trader is among five people arrested as part of a Financial Services Authority (FSA) investigation into insider dealing.

The employee has been named in the national press as Damian Clarke, an equity trader. The FSA, with the assistance of police forces in the City of London, the East Midlands and the North of England have this morning executed four search warrants in the City of London, Lincolnshire, Leicestershire and North Yorkshire. Five individuals including two men aged 37 and 62 and three women aged 39, 51 and 63 have been arrested and are currently in custody to be questioned in connection with an investigation in to insider dealing and market abuse. Schroders confirmed the arrest and said the...