(Adds case dropped against other individuals, "no comment" from
Clarke's lawyer, background)
LONDON, June 25 (Reuters) - A former equities trader at
Schroders, one of Britain's largest asset managers, has
been charged with nine counts of insider dealing over a
nine-year period, the financial regulator said on Wednesday.
The Financial Conduct Authority (FCA) said 38-year-old
Damian Frank Clarke committed the alleged offences, which relate
to share trading and spread bets, between 2003 and 2012.
Clarke was arrested alongside four other men and women in
January 2013 after police and prosecutors searched properties in
London and other parts of England. The regulator has since
dropped its case against the other four individuals.
Clarke will appear before Westminster Magistrates Court on
July 4. His lawyer at UK law firm CCW Solicitors declined to
Schroders, a 200-year-old London institution, said Clarke
left in 2013, that it had not been subject to any investigation
and that there had been no indication of any detrimental impact
on clients or financial results.
"Schroders does not tolerate any behaviour that is counter
to our core value of integrity," it said in a statement.
The regulator, which has been stepping up the fight against
market abuse, has secured 24 convictions for insider dealing
since 2009 and is prosecuting seven others for the offence.
Insider dealing is punishable by a maximum jail sentence of
seven years or an unlimited fine in Britain.
(Reporting by Kirstin Ridley and Chris Vellacott, editing by
Jane Merriman and Louise Heavens)