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Former Schroders trader charged with insider dealing

The FCA has charged a former Schroders Investment Management equities trader with insider dealing.

Damian Clarke has been charged with nine counts of insider dealing. The offences relate to trading in shares and spread bets between 30 October 2003 and 28 November 2012.

Clarke has been bailed to attend City of Westminster Magistrates Court on 4 July.

The FCA and its predecessor the FSA have secured 24 convictions in relation to insider dealing.

The regulator is also currently prosecuting seven other individuals for insider dealing.

A spokeswoman for Schroders says: “These charges relate entirely to this individual’s personal actions.

“Schroders does not tolerate any behaviour that is counter to our core value of integrity. This individual was dismissed summarily in February 2013 for gross misconduct.

“Schroders has not been subject to any investigation. There is no indication of any detrimental impact on our clients or financial results. We are not able to disclose any further details given the ongoing prosecution of Mr Clarke.”

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There is one comment at the moment, we would love to hear your opinion too.

  1. And to think this rouge trader wont be able to use (Mr Loop Hole) law firm Kingsley Napley as Mr Wheatley has them holed up at Canary Wharf sorting out his (well Adamsons) mess !!

    Mind you not a bad shout really the FCA has a bottomless pit of money to give them !! so I’m sure they wont mind

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