On March 15, 2016, Damien Clarke pleaded guilty to two counts of insider trading at Southwark Crown Court, having previously pleaded guilty to seven counts of insider trading on July 24, 2015. Mr. Clarke is a former equities trader who, through his employment, allegedly received inside information about price sensitive events, mainly anticipated public announcements of mergers and acquisitions. Mr. Clarke admitted that he profited from this information by placing trades using various accounts, in his own name and relatives. In total, Mr. Clarke’s profits amounted to at least £155,161.98. Mr. Clarke will be sentenced on June 13, 2016.
The FCA press release is available at: http://www.fca.org.uk/news/former-equities-trader-pleads-guilty-to-insiderdealing.