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Sarah Clarke prosecutes a former equities trader at Schroders Investment Management sentenced for insider dealing

13th June 2016

Damian Clarke, a former equities trader at Schroders Investment Management was sentenced this week to two years’ imprisonment having pleaded guilty to nine counts of insider dealing. The offences were committed over a 9 year period between October 2003 and November 2012.

In sentencing, Her Honour Judge Korner QC remarked, ‘it was no exaggeration when prosecution counsel said in opening that these offences were pre-meditated, deliberate, and dishonest.”

Confiscation proceedings will also be pursued against Mr Clarke.  “This is yet another case involving a city professional caught and jailed for abusing the market that employs him,” Mark Steward, director of enforcement and market oversight at the FCA, said in a statement. “Insider dealing is increasingly detectable these days and, where detected, is more likely to lead to terms of imprisonment and shame rather than glamorous profits and fame.”

Sarah Clarke has been instructed to prosecute or defend in many of the ground breaking insider dealing prosecutions and has vast expertise in the field. Her book Insider Dealing: Law and Practice (OUP) is widely regarded as the leading practitioner’s text book on this subject.

The case was widely reported in the national press, including the Daily Telegraph, the Financial Times and The Guardian.

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