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L&G employee arrested in FSA insider dealing probe
by Michelle Abrego on Feb 17, 2012 at 09:24
Legal & General Investment Management (LGIM) has revealed a 44-year-old man was arrested as part of an insider dealing investigation led by the Financial Services Authority (FSA) and the Serious Organised Crime Agency (Soca) was one of its employees.
The arrest was made following searches conducted on a London business address and two domestic premises in London and Kent.
The unnamed man has been released on bail pending further enquires.
LGIM said: 'We can confirm that a 44-year-old man employed by Legal & General Investment Management (LGIM) was arrested on 16 February and released on bail pending further enquiries.'
'We are not aware of any detriment caused to customers or any impact on our financial results.'
In March 2010, a number of business and domestic premises were searched and individuals arrested in the FSA’s largest ever insider dealing operation. Further searches were conducted in April 2011 and another arrest was made.
The FSA has so far secured 11 convictions in relation to insider dealing.
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As result of industry changes - the retail distribution review - and a growing focus on cost-efficient solutions, we anticipate the number of investors using ETFs will rise significantly over the coming years.
But as with any newer product, especially in the financial world, various misconceptions about ETFs have perpetuated over the years and iShares is committed to addressing and ultimately dispelling these.
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by Michelle Abrego on Jun 19, 2013 at 15:33
1 comment so far. Why not have your say?
Cynical Sam
Feb 17, 2012 at 12:02
anyone got any good share tips ???
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