Five individuals have been arrested and are currently in custody to be questioned in connection with an investigation into insider dealing and market abuse, following a Financial Services Authority investigation with the assistance of police forces.

The FSA with the assistance of police forces in the City of London, the East Midlands and the North of England, have this morning executed four search warrants in the City of London, Lincolnshire, Leicestershire and North Yorkshire.

Five individuals including two men aged 37 and 62 and three women aged 39, 51 and 63 have been arrested and are currently in custody to be questioned in connection with an investigation into insider dealing and market abuse.

No further details can be confirmed at this time and no individuals have been charged. The arrests are not linked to any other ongoing insider dealing investigation.

Insider dealing is a criminal offence that is punishable by a fine or up to seven years imprisonment.

As at this report the FSA has so far secured 21 further convictions in relation to insider dealing – included in this list is

1. Christopher McQuoid and James William Melbourne in March 2009;
2. Matthew and Neel Uberoi in November 2009,
3. Malcolm Calvert on 11 March 2010,
4. Anjam Ahmad on 22 June 2010,
5. Neil Rollins on 21 January 2011,
6. Christian Littlewood and Angie Littlewood on 8 October 2010 and Helmy Omar Sa’aid on 10 January 2011,
7. Rupinder Sidhu on 15 December, and James and Miranda Sanders together with James Swallow in May 2012 and
8. Ali Mustafa, Pardip Saini, Paresh Shah, Neten Shah, Bijal Shah and Truptesh Patel on 27 July 2012 and
9. Thomas Ammann on the 13 December.