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Constable

London City Banker Jailed For Insider Trading

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They're all at it. Think about it. The temptation must be too great for the greedy Barstewards.

I know a guy who works in an investment bank in London - he says that they are very strict about insider trading in the UK, but that when he worked in Australia they were all at it and nobody gave a damn.

Ps. He also tipped me a couple of good miners last year ;)

Edited by Constable

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I know a guy who works in an investment bank in London - he says that they are very strict about insider trading in the UK, but that when he worked in Australia they were all at it and nobody gave a damn.

Was it insider trading or market manipulation he was done for? Notoriously hard to prosecute for proper insider trading which is why the fsa was given new power in 2001.

Spot on about Australia. Sarbanes oxley is just a nasty rumor here. The analysis I was involved with looking at an m&a arbitrage fund showed the share price going to within 10-20% of the bid price 48 hours before most public announcements.

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There's plenty of this stuff that goes on, but it's not just a banker thing. Much of it is done by 'friends and family' of golf-club board member types because

A) they are permanently insiders- most bankers are not

B) they are watched less

C) it wasn't illegal back before 86 so attitudes are different

D) they have less future earnings potential at risk

E) if it was just matey chat in the 19th hole you can't object can you? After all, they all good old chaps eh?!

Edited by Princeofpounds

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he's a muppet. Throwing it away for that 'little' money. What sort of moron does he have to be. The only odd thing is that it wasn't flagged up before.... I've been investigated (as a matter of course because of involvement in takeovers and price spikes beforehand and some odd share dealings)..... my concern would be that his old firm was hiding its problems.....

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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