Via Bloomberg:
EX-CAZENOVE PARTNER GETS 21 MONTHS IN JAIL FOR INSIDER TRADING.
No details yet on disgorgement, or whether Malcolm Calvert has leave to appeal.
Updates (and the inevitable FSA press release) when available.
Update: Inevitable FSA press release.
Margaret Cole, director of enforcement and financial crime at the Financial Services Authority (FSA), said: “Our markets operate on honesty and trust and insider dealing makes a mockery of both these values. With the McQuoid and Uberoi cases before it, this sentence – our third successful conviction – shows that we will not tolerate insider dealing and will take the strongest action against anybody found to be involved in it.”
The confiscation and costs hearing will take place on 23 April 2010.
Related links:
Streaky’s guilty, but will he go down? – FT Alphaville
Court finds former partner of Cazenove guilty on five counts of insider dealing – FT
Post boy worked his way to top – FT
FSA still has to ‘crack the big one’ – FT