Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of 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 WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Play Japan's slump, the umbrella revolution and the battle for Brazil

Japan's slump, the umbrella revolution and the battle for Brazil

With the arrows of Abenomics appearing to be missing their targets and political uncertainty rife in Hong Kong and Brazil we take a look at investor sentiment in this week's Investment Pulse

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter