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FSA expands insider dealing unit

The FSA has more than doubled its insider dealing unit as part of its crackdown on illegal market activity.

The number of criminal prosecutors working in the unit has increased from 12 to 30 as the FSA focuses on tougher enforcement action.

Head of the wholesale markets division Sally Dewar says the watchdog has made a conscious decision to focus more on criminal cases.

The regulator launched its first criminal prosecution for insider dealing earlier this year.

Christopher McQuoid and James William Melbourne are accused of trading ahead of a £103m offer by Motorola for TTP Communications in June 2006.

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