An ex-Schroders trader has been banned for life by the Financial Conduct Authority (FCA) after being convicted for nine offences of insider dealing.
The regulator said the decision was specifically related to his conviction and sentencing to prison. Clarke was arrested as part of an investigation into insider dealing in January 2013. Schroders said at the time that it had suspended the employee in question. After pleading guilty, Damian Frank Clarke was convicted on 15 March 2016 at Southwark Crown Court of nine offences of insider dealing involving securities on a regulated market. He was later sentenced to two years in jail on 13 June at Southwark Crown Court. The trader had pocketed more than £150,000 by using insider inf...
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