FCA charges former Blackrock portfolio manager with insider dealing

Hayley Kirton
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The regulator claims the alleged activity took place in 2011 (Source: Getty)

A former investment portfolio manager has today been charged with insider dealing by the Financial Conduct Authority (FCA).

Mark Lyttleton, aged 45 who used to work for Blackrock Investment Management (UK), has been charged with three counts of insider dealing.

The FCA claims the alleged activities took place between October and December 2011 and relate to trading in equities and a call option.

Lyttleton, who was initially arrested in 2013 at his home in West London, also to appeared before City of London Magistrates' Court today. He has been released on conditional bail and told to appear at Southwark Crown Court in October.

A count of insider dealing carries a maximum sentence of seven years in prison.

A Blackrock spokesperson noted the alleged activities took place for Lyttleton's personal gain while off of their premises.

The spokesperson continued: "As charges have now been brought we will not be able to make any further comment."

Blackrock announced Lyttleton was leaving the firm, where he worked in their London office, in March 2013.