March, 25, 2010

A major British insider dealing probe has seen the arrests of six men who are accused of being involved in a sophisticated scam.The six were arrested on suspicion of insider dealing following a probe by Britain's Financial Services Authority. Among those arrested were employees of Deutsche Bank, hedge fund Moore Capital, and financial services firm Exane.

The men were taken into custody after homes and businesses in London were searched, with police seizing computers and other documents. It has been alleged the men, all part of the banking industry, passed inside information to traders who used the knowledge to make significant profits as a result. The FSA recently announced plans to put on extra staff to police banking and ancillary services in the City of London.

.

.