Ex-BlackRock employee in trading arrest

Michael Bow
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A FORMER employee who used to work at City fund manager BlackRock was arrested last month on suspicion of insider dealing, the firm said last night, as first reported by Sky News.

BlackRock, which is not under investigation, said an individual was arrested by City of London Police on 30 April.

“The FCA has informed us that the allegations relate to actions carried out for personal gain, while off our premises, and that neither BlackRock, nor any other employee, is under investigation,” it said. “There is no suggestion that there has been any impact to any of BlackRock’s clients. The alleged behaviour is totally contrary to the firm’s principles and values. BlackRock strongly supports aggressive enforcement of the law in these matters. The firm has been aiding and will continue to aid the authorities with their investigations.”

The Financial Conduct Authority declined to comment last night but had previously said two people had been arrested by City of London Police on 30 April in connection with an investigation into insider dealing and market abuse.

Two people, a man aged 41 and a woman aged 37, were arrested after a search in West London.