The Financial Services Authority has charged a 42-year-old with eight counts of insider dealing and two counts of money laundering.
Richard Anthony Joseph attended City of London Magistrates Court today and will next appear at Southwark Crown Court on 6 March. He is currently on conditional bail and the charges follow his arrest on 19 May last year. Insider dealing is considered to be a criminal offence, punishable by a fine or up to seven years imprisonment, and the FSA has secured 11 convictions on the charge in the past three year. The regulator is also currently prosecuting 15 other individuals for insider dealing.
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