A portfolio manager at GLG Partners Inc., was one of the three employees arrested Wednesday in London on suspicion of insider trading, according to a person with knowledge of the matter.
Bloomberg reports that a 33-year-old man was detained and questioned about trades he made as a private individual, said the person, who asked not to be identified because the information hasn’t been publicly disclosed.
The investigation is part of the push by the Financial Services Authority to crack down on insider trading by employees at London’s biggest financial companies after previously targeting lower-profile individuals. The U.K. regulator arrested five people including a Schroders Plc (SDR) equity trader in another insider-trading investigation last month.
Man Group has confirmed that one of its employees had been arrested by the FSA.
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