A Legal & General employee has been arrested as part of an investigation into insider dealing by the Financial Services Authority (FSA) and Serious Organised Crime Agency (SOCA).
The 44-year-old was interviewed under caution at a London police station on Thursday and released on bail pending further enquiries.
Searches were also conducted at one London business address and two domestic premises in London and Kent.
His employer confirmed he worked within Legal & General Investment Management and said it was "not aware of any detriment caused to customers or any impact on our financial results", the Guardian reports.
The developments are part of an ongoing investigation into insider dealing by SOCA and the FSA and follow six arrests and searches of 16 addresses in March 2010. A further arrest was also made in April 2011.
Since 2009, the FSA has secured 11 convictions in relation to insider dealing, while it is currently prosecuting 15 other individuals on the same charge.
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