Ex-Schroders equities trader pleads guilty to insider trading

Courtroom Gavel

A former Schroders equities trader has pleaded guilty to nine counts of insider trading.

Damian Clarke will be sentenced on 13 June this year after pleading guilty at Southwark Crown Court.

He pleaded guilty to seven counts of insider dealing on 24 July 2015 and today pleaded guilty to the two remaining counts.

Read more: Finance watchdog hits ex-trader with charges for insider dealing

Mark Steward, director of enforcement and market oversight at the Financial Conduct Authority, said: "Insider dealing is a dishonest crime, not a means for city professionals to make money on the side.

"Mr Clarke abused the trust that came with a city career by cheating the system and, in doing so, he let down the expectations of the whole community.

"The FCA remains dedicated to stamping out market abuse in all its forms.”

Full story: Ex-Schroders equities trader pleads guilty to insider trading: City A.M.

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