Ex-Schroders trader charged with insider trading

Pointing Finger

Damian Clarke, a former equities trader at Schroders in London, was charged with insider trading in shares and spread bets over a nine-year period.

Bloomberg News reports that Clarke, 38, faces nine counts over trades made between Oct. 30, 2003, and Nov. 28, 2012, the Financial Conduct Authority said in a statement today. Clarke, who was arrested in January 2013 along with four other people, is scheduled to appear at a London criminal court on July 4.

The charges are 'related entirely to this individual’s personal actions' and he was dismissed in February 2013 for gross misconduct, Schroders said in a statement. A lawyer for Clarke couldn’t be immediately reached.

'Schroders has not been subject to any investigation', according to the statement. 'There is no indication of any detrimental impact on our clients or financial results'.

To access the complete Bloomberg News article hit the link below:

Ex-Schroders Trader Clarke Charged With Insider Trading 

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