FSA secures trophy conviction of ex-Cazenove partner
The Financial Services Authority (FSA) has secured its most significant conviction to date with former Cazenove partner Malcolm Calvert this week being convicted on five counts of insider dealing. The verdict yesterday (10 March) represented the FSA's most high-profile conviction and the third successful prosecution for insider dealing by the City regulator, which hailed the result as a "milestone".
March 11, 2010 at 10:12 AM
3 minute read
The Financial Services Authority (FSA) has secured its most significant conviction to date with former Cazenove partner Malcolm Calvert this week being convicted on five counts of insider dealing.
The verdict yesterday (10 March) represented the FSA's most high-profile conviction and the third successful prosecution for insider dealing by the City regulator, which hailed the result as a "milestone".
The former market-maker and stockbroker, who was a partner at Cazenove until he retired in 2000, made around £103,800 from illicit trades between June 2003 and October 2004. Calvert was today (11 March) sentenced to 21 months in jail.
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