UK: insider dealing - arrests made in first joint FSA/SOCA investigation

The Financial Services Authority and Serious Organised Crime Agency have made arrests in connection with their first joint investigation of insider dealing. The investigation began in 2007. The FSA reports on its website:

Six men including two senior city professionals at leading city institutions and one city professional at a hedge fund have been arrested on suspicion of being involved in a sophisticated and long-running insider dealing ring. It is believed that the city professionals passed inside information to traders (either directly or via middlemen) who traded based on this information and have made significant profits as a result".