Mr McQuoid was given an immediate sentence for eight months while his father-in-law, Mr James William Melbourne had his sentence suspended for 12 months.
Passing the sentence at Southwark Crown Court Judge Testar said that insider dealing is a crime which undermines confidence in the integrity of the market and that the public are entitled to be very angry if people in possession of inside information treat it as a licence to print a substantial amount of money.
The FSA is currently prosecuting three other insider dealing criminal cases.
FSA director of enforcement Margaret Cole says: “The Judge’s remarks clearly recognise the serious damage that insider dealing can do to the markets and it is not a victimless crime. It affects us all. The FSA is getting tougher on insider dealing and will not hesitate to take action against people who damage the integrity of our markets.”