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Watchdog arrests another man on corporate fraud charge

Published on 19 May 2010 under category: legal

Another insider dealing arrest has been made by the financial services watchdog.

The Financial Services Authority (FSA) arrested the 39-year old man at an East London address this morning (May 19th).

It follows on from a spate of arrests and charges made by the regulator, which is aiming to root out endemic levels of corporate fraud in the financial services industry.

Since the beginning of the year, there have been several high profile cases of insider dealing.

Seven men were accused of the crime in one major case which is currently in court.

In a meeting that took place this week, the watchdog outlined its goals to take a more intensive approach to scrutinising business.

This year saw the first case where a man accused of insider dealing pleaded guilty in exchange for leniency, which the FSA is now allowed to grant.

Since the economic downturn, it has been subject to criticism for failing in its supervisory role.

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