A former KPMG senior partner has pleaded guilty to insider trading.
Scott London admitted passing information about his clients to a friend, who then traded on the tips. London shared details of US company Herbalife's May 2011 earnings release and United Rentals' December 2011 announcement to take over RSC Holdings, among others, the BBC reported. London, 50, who has agreed to pay around $1.3m in restitution, faces a maximum term of 20 years in prison and a maximum fine of $5m (£3.3m), according to the plea agreement.
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