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UBS and Cazenove staff among those arrested for insider dealing

Employees of UBS and JPMorgan Cazenove were among eight individuals arrested yesterday by the police and the FSA following allegations of insider dealings.

Officers from City of London Police and 40 FSA staff carried out the arrests and executed search warrants across London and the South East in connection with a major ongoing investigation into insider dealing rings.

UBS has confirmed that a junior member of its support staff was arrested and has subsequently been suspended from work.

Cazenove has confirmed that a sub-contractor who worked at the bank but was employed by another company was also arrested.

The FSA refused to comment further on the arrests.

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