The Financial Services Authority has reported that three men, 33, 37 and 39, are in custody awaiting questioning. The men have been arrested on suspicion of insider dealing and market abuse following dawn raids on their homes and offices in London this morning. (Release).
Reuters reports that the FSA is currently prosecuting six others for insider dealing. It has secured 21 convictions for the offence, which can carry a jail sentence of up to seven years.