Paul Milsom, a former senior equities trader at Legal & General Investment Management (LGIM), has today been sentenced to two years imprisonment for disclosing inside information between October 2008 and March 2010.
The case was brought by the Financial Services Authority (FSA). A £245,000 confiscation order was also made at Southwark Crown Court. During the relevant period Milsom was an FSA approved person employed by LGIM. Milsom disclosed inside information relating to forthcoming transactions in securities by LGIM. When sentencing, His Honour Judge Pegden indicated that he had given Milsom full credit for pleading guilty at the earliest opportunity and extra credit for entering into a plea agreement with the FSA. Tracey McDermott, director of enforcement, said:"This case involved serious o...
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