UPDATE 1-UK police arrest man after insider dealing raid

* Raid on house in east London, 39-year-old man arrested

* Follows recent crackdown by FSA on insider trading

(Adds details, background)

LONDON, May 19 (BestGrowthStock) – Police and investigators from
Britain’s financial services watchdog raided a house in London
and arrested a man in relation to allegations of insider
trading, the Financial Services Authority said on Wednesday.

The FSA has been cracking down on white collar crime over
the last 18 months, handing down record fines and successfully
prosecuting its first insider dealing suspects.

Earlier this month Malcolm Calvert, a former partner at UK
stockbroker Cazenove who has been jailed for 21 months, was
ordered to pay 524,000 pounds ($746,800) to repay profits made
from insider trading and cover costs. [ID:nLDE6461HA]
On Tuesday ex-hedge fund trader Anjam Ahmad pleaded guilty
to insider dealing — the first to do so after the FSA won
powers to offer leniency in return for cooperation.

The FSA has launched two high profile insider dealing
investigations in the last few months, arresting senior
financial services professionals working at top banks, but is
also investigating a number of smaller cases.

The watchdog did not say in Wednesday’s statement whether
the latest arrest was related to ongoing investigations that
have already been publicised.

“A man aged 39 was arrested to facilitate questioning under
caution in relation to allegations of insider dealing,” the FSA
said in a brief statement.

Stock Market Analysis

($1=.7017 Pound)

(Reporting by Paul Hoskins and Kirstin Ridley; editing by
Simon Jessop)

UPDATE 1-UK police arrest man after insider dealing raid