Damian Clarke, a former equities trader at Schroder Investment Management, has been sentenced to two years in prison after pleading guilty to nine counts of insider dealing.
According to the FCA, Clarke received inside information about significant corporate events, including anticipated public announcements of mergers and acquisitions. Clarke allegedly used this information to place trades using accounts in his own name and that of close family members, who had provided him with account numbers and passwords. The offences were committed over a nine-year period between October 2003 and November 2012, and resulted in a total profit of at least £155,161.98 for Clarke. Top 10 mis-selling scandals cost UK retail banks £53bn since 2000 Between August 200...
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