Ex-Schroders trader gets two years for insider dealing

Added 13th June 2016

Damian Clarke, a former equities trader at Schroders Investment Management, has been sentenced to two years in prison for insider dealing.

Ex-Schroders trader gets two years for insider dealing

Clarke, who was employed by Schroders IM between August 2000 and January 2013, pleaded guilty to nine counts of insider dealing at Southwark Crown Court.

Initially employed as an assistant fund manager, Clarke became an equities trader in 2006. In these roles he received inside information about significant corporate events, in particular public M&A announcements, and used it to place trades using accounts in his own name and close family members who had provided their account numbers and passwords.

All offences took place in the nine years between October 2003 and November 2012, and total profits from the illegal dealing add up to at least £155,161.98 ($220,380, €195,623).

“It was no exaggeration when prosecution counsel said in opening that these offences were pre-meditated, deliberate, and dishonest,” said Judge Korner QC.

Confiscation proceedings will be pursued against Clarke. “This is yet another case involving a city professional caught and jailed for abusing the market that employs him,” said Mark Steward, FCA director of enforcement and market oversight. “Insider dealing is increasingly detectable these days and, where detected, more likely to lead to terms of imprisonment and shame rather than glamorous profits and fame,” he added.

The nine counts relate to when Clarke traded Swan Hill Group, Marlborough Stirling, Eidos, Neutec Pharma, Retail Decisions, Raven Mount Group, BSS Group, Autonomy Corp and Invensys.

The FCA said it has secured 29 other convictions in relation to insider dealing.


Visitor's Comments Add your comment

Add Your Comment

We won't publish your address


Regulatory landscape changes in the Middle East

Sponsored by Old Mutual International

Regulatory landscape changes in the Middle East...

Brendan Dolan, Regional Director, Middle East and Africa for Old Mutual International, talks about how the group is working with advisers as the regulatory landscape...

Square Mile Research

Matthews Pacific Tiger Fund
Matthews Pacific Tiger Fund...

Talking Factsheets is a video service for users...


The turning tide of global equities

The turning tide of global equities

Despite a gloomy beginning to the year, global equities have started to outshine the backdrop of economic malaise that threatened their upward trajectory, with the index delivering 19.2%




Ashburton International
Ashburton International

Ashburton Investments is a new generation investment...



Offshore Bond Workshop Glasgow 2016
Offshore Bond Workshop Glasgow 2016

22nd November 2016
The Grand Central Hotel, Glasgow

Future Advisory Forum Dubai 2016
Future Advisory Forum Dubai 2016

23rd November 2016
Shangri-La Hotel, Dubai 

Sponsored Content

Investment Strategy