Clarke admitted dealing on the basis of information he acquired during his time working at Schroder Investment Management.
He was initially employed as a fund manager’s assistant and from 2006 as an equities trader.
Two new pleas
Clarke previously pleaded guilty to seven counts of insider dealing in July 2015; adding a further two guilty pleas when he appeared in Southwark Crown Court on Tuesday.
The nine counts relate to the following shares: Swan Hill Group; Marlborough Stirling; Eidos; Neutec Pharma; Retail Decisions; Raven Mount Group; BSS Group; Autonomy Corp; and Invensys.
“Mr Clarke abused the trust that came with a city career by cheating the system and, in doing so, he let down the expectations of the whole community."
During his employment Clarke received information about corporate activity relating the listed companies, such as public announcements, mergers and acquisitions; then subsequently used the information to place trades in his name and accounts in the name of close family members.
Total profits he made amounted to £155,162 ($222,707, €200,075).
Cheating the system
Mark Steward, director of enforcement and market oversight at the Financial Conduct Authority (FCA), said: “Insider dealing is a dishonest crime, not a means for city professionals to make money on the side.
“Mr Clarke abused the trust that came with a city career by cheating the system and, in doing so, he let down the expectations of the whole community. The FCA remains dedicated to stamping out market abuse in all its forms.”
