Malcolm Calvert, identified in the UK press as a “former high-flyer at Cazenove, the Queen’s bankers,” was today ordered to stand trial on insider trading charges. The UK’s FSA alleges that Calvert misused confidential information about a string of proposed management buyouts, takeovers and mergers to acquire a total of 425,500 shares in companies including hP Bulmer, Macdonald hotels, Vernalis, Johnston Group, South Staffordshire and the RAC.
The Daily Mail reports that Calvert allegedly committed the offenses between April 2003 and March 2005, “well after his April 2000 departure as partner in the blue-blooded City investment bank.” Judge Geoffrey Rivlin QC reportedly told Calvert that his eight-day trial prosecuted by the FSA would begin on September 9.
