Former Schroders trader charged with insider dealing

Scales justiceThe Financial Conduct Authority has charged former equities trader at Schroders Investment Management Damian Frank Clarke with nine counts of insider dealing. Schroders says Clarke was dismissed in Feburary last year for “gross misconduct”. In a statement, the UK regulator says the offences relate to trading in shares and spread bets between October 30, 2003, and November 28, 2012. Clarke has been bailed to attend City of Westminster Magistrates Court on July 4. Schroders says the nine counts of insider trading were related entirely to the individual’s personal actions. “Schroders does not tolerate any behaviour that is counter to our core value of integrity,” the asset manager says. “This individual was dismissed summarily in February 2013 for gross misconduct.” Schroders says it has not been subject to any investigation, adding that “there is no indication of any detrimental impact on our clients or financial results”. Schroders is not able to disclose further details given the ongoing prosecution of Clarke. ©2014 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.