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FSA charges ex-hedge fund trader of conspiracy to commit insider dealing

The FSA has today charged ex-hedge fund trader Anjam Ahmad with one count of conspiracy to commit insider dealing.

The offence relates to trading in 22 different shares between June and August 2009.

He has been bailed to attend City of Westminster Magistrates’ Court on May 7, 2010.

These charges follow the searches and arrest of three men on January 28, 2010. 

The FSA says the charges are unconnected with other searches, including the recent searches on March 23, 2010.

The Financial Services and Markets Act 2000 gives the FSA powers to investigate and prosecute insider dealing, defined by The Criminal Justice Act 1993.

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