Five arrested in Financial Services Authority dawn raids

TWO men and three women were arrested yesterday as part of an investigation into insider dealing and market abuse.

The arrests were made after the Financial Services Authority (FSA) and police swooped on properties in London and other parts of England.

Fund management firm Schroders confirmed one of its employees was among those arrested and had been suspended, but the group stressed it was not involved in the investigation.

A spokeswoman added: “The FSA has informed us that the allegations relate entirely to this individual’s personal actions.

“There is no indication of any detrimental impact on our clients or financial results.”

Those convicted of insider dealing face a fine or up to seven years in prison.