offences punishable by fouryears' imprisonment include those in which inside information is used with intent to buy or sell financial instruments or to cancel or amend an order.
Previous to the FCA's establishment, the FSA secured 23 convictions in relation to insider dealing
, including that of (http://www.
The organisation has previously secured 14 convictions for insider dealing
and is prosecuting four other individuals.
And Malcolm Calvert, a former trader and partner of Cazenove bank, was recently charged with 12 counts of insider dealing
over a two-year period following his retirement from the firm.
and money-laundering are not entirely natural bedfellows: insider dealing
may or may not be a crime and may or may not give rise to a money-laundering offence, depending on the member state concerned, the amount of money involved and the use to which it is put.
It contains prohibitions for insider dealing
and market manipulation, and provisions to prevent and detect these.
The most serious forms of market abuse, such as insider dealing
, will be punishable by a maximum prison term of four years.
BUSINESSMAN Iraj Parvizi, the owner of this year's St James's Palace Stakes winner Most Improved, has been charged by the Financial Services Authority with insider dealing
, writes Andrew Scutts.
Topics include corporate restructuring and raiding, insider dealing
and market manipulation, deduction of interest paid on foreign loans, offshore corporate accounts, and harmonized regulation of investment services.
In October 2010 Christian Littlewood, his wife Angie and a family friend, Helmy Omar Sa'aid, pleaded guilty to eight counts of insider dealing
in shares listed on the London Stock Exchange and the Alternative Investment Market (AIM) between 2000 and 2008.
He is a member of the supervisory board of the Hong Kong Housing Society and a member of the Hong Kong Insider Dealing