Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Schroder trader's family linked to FSA insider dealing arrests

Schroder trader's family linked to FSA insider dealing arrests

Relatives of the Schroders equity trader arrested in the Financial Services Authority's (FSA) insider dealing probe are believed to be among the five individuals taken into custody.

It emerged that the individual at the heart of the investigation was Schroders equity trader Damian Clarke. He was one of two men and three women arrested in a series of raids on properties in London, Lincolnshire, Leicestershire and North Yorkshire yesterday morning.

Wealth Manager now understands from sources close to the situation that the five individuals, aged between 37 and 63, were members of the same family.

In a statement issued yesterday, Schroders admitted one of its employees had been taken into custody, without disclosing the individual's name.

The statement read: 'On Tuesday 22 January, a Schroders employee was arrested by the FSA and City of London Police on suspicion of insider dealing. The individual has been suspended with immediate effect.  

'The FSA has informed us that the allegations relate entirely to this individual’s personal actions. Schroders is not subject to any investigation.

'There is no indication of any detrimental impact on our clients or financial results. We are not able to disclose any further details as this matter is subject to an on-going investigation of the individual concerned.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Kames' Roberts: how we're positioned for rising inflation

Kames' Roberts: how we're positioned for rising inflation

Kames Capital's head of fixed income David Roberts says inflation remains robust, leading the firm to build protection into its portfolios.

Play Sector Spotlight: Tilney Bestinvest's Louie French on ESG

Sector Spotlight: Tilney Bestinvest's Louie French on ESG

With global leaders committing to tackling climate change does this create a compelling investment opportunity? 

Play PCMR: Brexit - get ready for double-digit sterling depreciation

PCMR: Brexit - get ready for double-digit sterling depreciation

Gina Sanchez, founder and chair at consultancy ChanticoGlobal, says a Brexit would result in a 15% depreciation of sterling

Your Business: Cover Star Club

Profile: Quilter Cheviot's international boss on taking the firm global

Profile: Quilter Cheviot's international boss on taking the firm global

The term ‘vertical integration’ has lost much of its descriptive value in recent months through over-use and misuse

Wealth Manager on Twitter