On 30 April 2013, following the execution of a search warrant, two individuals were arrested by the City of London Police Economic Crime Directorate in connection with an FCA investigation into insider dealing and market abuse. The FCA has reported that Swiss authorities searched business premises in Switzerland. As of late 2012/early 2013, at least seven individuals have been arrested or prosecuted in unrelated cases of insider dealing, including two separate cases in March 2013 when former equities trader Paul Milsom and former futures trader Richard Joseph were respectively sentenced to 2 and 4 years’ imprisonment for insider dealing.