The criminal insider trading trial of Neel Uberoi, a dentist from south London, begins today in the UK. It is the latest development in the UK’s effort to get tougher on insider trading and market abuse. Uberoi’s trial is one of three criminal cases the Financial Services Authority has brought this year–the first three ever, as discussed here.
As reported by Bloomberg, before 2008, there had never been an FSA arrest for insider trading. The Bloomberg article adds that the FSA has just 98 enforcement agents compared with the US SEC’s 1,175.