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IT firm manager in court over insider dealing

A former reporting and financial planning manager has appeared in court over insider dealing offences in a prosecution brought by the FCA.

Ryan Willmott, former group reporting and financial planning manager at IT services firm Logica, appeared today at Westminster Magistrates court in respect of three offences of insider dealing.

The offences relate to trading in Logica shares in May and June 2012.

Logica was acquired by IT and business service provider CGI for £1.7bn in 2012.

CGI UK marketing and communications director Janine Bailey says: “CGI has engaged with, and will continue to co-operate with the FCA in its inquiries.

“The company is unable to disclose any details or comment on this matter as it is an ongoing prosecution against an individual, related to personal actions whilst in the employment of Logica. The individual left the company in 2012.”

The FCA and its predecessor the FSA have secured 25 convictions in relation to insider trading.

The regulator is currently prosecuting eight other individuals for insider trading.

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