The City regulator flexed its muscles once again this morning after five people were arrested in an insider dealing probe.
The Financial Services Authority said four search warrants were executed in the City of London, Lincolnshire, Leicestershire and North Yorkshire.
“Five individuals including two men aged 37 and 62 and three women aged 39, 51 and 63 have been arrested and are currently in custody to be questioned in connection with an investigation into insider dealing and market abuse,” an FSA statement said.
“No further details can be confirmed at this time and no individuals have been charged. The arrests are not linked to any other ongoing insider dealing investigation.”
Insider dealing is a criminal offence that is punishable by a fine or up to seven years imprisonment.
Experts have warned that financial crime is likely to continue rising as the impact of the economic downturn bites.
