Five individuals have been charged by the FSA with 17 counts of insider dealing contrary to section 52 of the Criminal Justice Act 1993. James Sanders, co-owner and a director of Blue Index Limited (Blue Index), and his wife Miranda Sanders were jointly charged with seven offences of insider dealing relating to trading ahead of seven different takeover announcements. Mr Sanders was also charged with three offences of disclosing inside information contrary to section 52 of the Criminal Justice Act 1993. James Sanders was charged with Christopher Hossain, a senior trader of Blue Index with offences of encouraging clients of Blue Index to trade in Contracts for Differences and Christopher Hossain was also charged with an offence of insider dealing for trading before a takeover announcement. James Swallow, co-owner and a director of Blue Index has been charged with three offences of insider dealing relating to his trading ahead of three separate takeover announcements. A former employee of Blue Index, Adam Buck, has been charged with one offence of insider dealing for trading ahead of a takeover announcement. The offences are alleged to have taken place between October 2006 and February 2008.