City of London Police today stormed two addresses in London as part of a raid relating to suspected insider dealing following an investigation with the Financial Services Authority.

Search warrants were produced for the London addresses as well as one in Germany after the UK regulator’s work with the prosecution authority in Hessen.

In a statement to the market, the FSA confirmed that a male city worker aged 37 and a 28-year-old female have been arrested as part of the raids.

Today's operation was jointly carried out by the FSA and the City of London Police Economic Crime Directorate. 
 The news comes as the FSA continues its crackdown on insider dealing.

The regulator has so far secured a number of sentences of imprisonment (two suspended) in relation to insider dealing.

These were: Christoper McQuoid and James William Melbourne in March 2009; Matthew and Neel Uberoi in November 2009, Malcolm Calvert on 11 March 2010 and Anjam Ahmad on 22 June 2010.

Further prosecutions are ongoing in respect of 11 other cases of alleged insider dealing.