The defendants in the Blue Index insider dealing case have been sentenced. The offences were straightforward in concept (although the FT reports that obtaining the convictions required listening to hundreds of hours of taped phone calls and cost £2.5 million). Here is the FSA’s press release. The case is interesting for two reasons.
First, it involved a parallel investigation with the United States authorities – the SEC, FBI and DoJ. Second, one of the defendants, Miranda Saunders, received a jail sentence despite having young children. This appears to the first time that a custodial sentence for insider dealing has been imposed on a mother of young children. The Guardian report is comprehensive.
See also: Insider dealers ordered to pay £1.5m in confiscation (Christian Littlewood and Angie Littlewood) – FSA, 20 August 2012.
Follow us on Twitter @CoFinLaw
