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.”