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Ex-Schroders trader sentenced for insider dealing

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Former Schroders equities trader Damian Clarke has been sentenced to two years behind bars after pleading guilty to nine counts of insider dealing.

Southwark Crown Court heard the offences took place over nine years between 2003 and 2012, during which time Clarke was initially an assistant fund manager, before becoming an equities trader in 2006.

The judge described the offences as “pre-meditated, deliberate, and dishonest”.

Clarke’s profits from the insider trading totalled £155,161.98.

FCA director of enforcement and market oversight Mark Steward says: “This is yet another case involving a city professional caught and jailed for abusing the market that employs him. Insider dealing is increasingly detectable these days and, where detected, more likely to lead to terms of imprisonment and shame rather than glamorous profits and fame.”

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. Dominic Thomas 13th June 2016 at 4:34 pm

    Unless you’ve missed a digit or two, given the amount of profit, in the context of multi-million pound funds, I’m not sure what is most disturbing about this case (as presented) the time it took to identify or the comparatively small profit for the high risk involved with insider trading. On lots of levels it is therefore a surprise that he held down a post at Schroders for quite so long…

    (with the caveat that there’s really not much to go on in this item).

  2. So he has screwed up his life for 155K over nine years.

    Imagine his future career prospects are rather limited.

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