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FSA insider dealing arrests: Schroders employee one of five arrested

A Schroders employee was one of the five people arrested by the FSA and City of London Police this morning, the asset manager has confirmed.

The arrests were made in connection with an investigation into insider dealing and market abuse and were carried out in the City of London, Lincolnshire, Leicestershire and North Yorkshire.

A statement issued by Schroders says one of its employees was arrested in the swoop. It added that the worker has been suspended and said Schroders itself is not being investigated by the FSA.

“On Tuesday 22 January 2013, a Schroders employee was arrested by the FSA and City of London Police on suspicion of insider dealing,” the statement says.

“The individual has been suspended with immediate effect. The FSA has informed us that the allegations relate entirely to this individual’s personal actions. Schroders is not 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 as this matter is subject to an ongoing investigation of the individual concerned.”

This morning’s arrests involved two men aged 37 and 62 and three women aged 39, 51 and 63.

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