A former trader has become the third person to be sentenced in what marked the end of the first phase of the regulator's "largest and most complex insider dealing investigation" to date.
Former senior execution trader and portfolio strategist at Moore Europe Capital Julian Rifat was jailed for 19 months and fined £100,000 at Southwark Crown Court on 19 March, and ordered to pay costs of £159,402. Rifat was found guilty of passing inside information, obtained during the course of his employment, to an associate, Graeme Shelley, who then traded for their joint benefit. Shelley, who was broker at Novum Securities, pleaded guilty last March to insider dealing with Rifat and another associate, Paul Milsom. Milsom, a former execution trader at Legal & General Insurance M...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
