The FSA has charged seven people with insider dealing offences under the Criminal Justice Act 1993. The charges relate to an alleged conspiracy to deal on inside information obtained by the defendants from two major investment banks and involve alleged unlawful profits of about £2.5 million. A warrant has been issued for the arrest of another person in connection with the investigation. The charges follow searches and arrests in July 2008 ( and are unconnected with other searches, including those carried out last month. The defendants have been bailed to appear at City of Westminster Magistrate’s Court on 14 April.

A copy of the FSA press release is available.

http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/059.shtml