The U.K.’s Financial Services Authority (FSA) is reportedly set to launch its second criminal prosecution today, accusing Malcolm Calvert, a former partner at stockbroker Cazenove, of insider trading.
According to an article in the Times Online, an FSA spokesperson confirmed today that Calvet will appear in court this afternoon in connection with the charges. The article notes that despite having the power to bring criminal charges for insider dealing since 2001, the FSA has launched only one previous case., and that the new case will be the first time the FSA has brought criminal charges against a financial services employee.
[…] counsel of TTP Communications Plc and his father-in-law earlier this year. On July 24, as discussed here, former Cazenove & Co. partner Malcolm Calvert was charged with 12 counts of insider […]