UK Arrests 5 In Insider Trading Scheme

Law360, New York (January 22, 2013, 5:34 PM EST) -- The U.K. Financial Services Authority said Tuesday it had arrested five people on charges of insider dealing and market abuse, including one reported equities trader from British multinational asset management company Schroders PLC.

The agency said it arrested two men, ages 37 and 62, and three women, ages 39, 51 and 63, in connection with the investigation. One of the men was Frank Clarke, an equity trader at Schroders, according to a report in the U.K. newspaper The Financial Times.

A representative for Schroders did not...
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