Wednesday 24 March 2010

Deutsche Bank, BNP and Moore Capital staff in FSA raid

Their employees are among six arrested under suspicion of taking part in a long-running insider-dealing scheme. The investigation is a joint venture between the FSA - the City's watchdog - and the Serious Organised Crime Agency.


SOCA punch

The investigation is a joint venture between the FSA - the City's watchdog - and the Serious Organised Crime Agency. The operation, which began in 2007, is the FSA's biggest operation against insider dealing. It is also the first run between the two agencies. Investigators raided 16 addresses in London, the South East and Oxfordshire, seizing documents and computers. The FSA is probing private dealings by the traders, rather than trades for the firm. The firms say they are co-operating with the investigation.

Read the full BBC News article here.