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FSA charges five individuals with insider dealing

Five individuals have been charged by the FSA with 17 counts of insider dealing relating to trading ahead of takeover announcements.

Brokerage Blue Index co-owner and director James Paul Sanders and his wife Miranda have been jointly charged with seven offences of insider dealing relating to trading ahead of seven separate takeover announcements.

James Paul Sanders and Blue Index senior trade Christopher Hossain have been charged with offences of encouraging clients of the firm to trade contract for differences in relation to two of the stocks. Hossain has also been charged with a further offence of insider dealing ahead of a takeover announcement.

Another Blue Index co-owner and director James Swallow co-owner and a director of Blue Index has been charged with three offences of insider dealing relating to his trading ahead of three separate takeover announcements.

Former employee of Blue Index and close associate of James Paul Sanders Adam Buck has been charged with one offence of insider dealing relating to his trading ahead of a takeover announcement.

The offences are alleged to have taken place between October 2006 and February 2008.

All five individuals have been bailed by City of London Police to appear at City of Westminster Magistrates Court on December 20, 2010.

The suspects were arrested on May  27, 2009. At the same time the FSA took action to prevent Blue Index from continuing to trade.

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  1. Adam Buck… being investigated for insider trading. Now running Selby Jennings a recruitment firm serving FSA regulated banks…

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