View more on these topics

Former Logica manager pleads guilty to insider dealing

The former group reporting and financial planning manager of IT firm Logica has admitted three instances of insider dealing in a case brought by the FCA.

Ryan Willmott, who first appeared in court two weeks ago, will now be sentenced on 26 March.

Willmott admitted dealing after receiving information ahead of the takeover of Logica by CGI Group, which was publicly announced on 31 May. He set up a trading account in the name of a former girlfriend to carry out trades.

He also admitted disclosing inside information to a family friend, who then went on to deal on behalf of Willmott and himself. 

Profits from Willmott’s insider dealing exceeded £30,000.

FCA acting director of enforcement and market oversight Georgina Philippou says: “Those who are entrusted with inside information commit a serious breach of trust by disclosing or trading on that information. 

“This case shows that using others to try to cover up that breach of trust does not prevent detection The FCA will not stand by when people take part in opportunistic insider dealing.”

The regulator has now secured 26 conviction in insider dealing, and is currently prosecuting eight other cases.



L&G plans fixed-term annuity launch

Legal & General is to launch a new fixed-term annuity to help savers limit the income tax they pay when accessing their pensions after April. The move represents a dramatic shift in stance for the provider. In 2012, L&G Assurance chief executive John Pollock – who recently retired – told Money Marketing he had warned the regulator […]

Danny Alexander

Lib Dems eye harsh penalties for aiding tax evasion

The Liberal Democrats have announced plans to introduce a new criminal offence of corporate failure to prevent tax evasion. The proposals would see firms which help people dodge tax hit with the same penalty as the individual evading tax. It is not clear whether the policy would extend to financial advisers. The party has also […]

David Shelton’s business tips: Prioritising threats and opportunities

If you have reviewed the threats and opportunities relating to your business, you will know the lists can be lengthy and contain issues of different scale, timespan and impact. Typically, only a few of these will be really important for your business, so use the following questions to help identify where you should concentrate: What […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm