FCA says four arrested in market abuse probe

LONDON Wed Jul 31, 2013 10:14am BST

The logo of the new Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren

The logo of the new Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013.

Credit: Reuters/Chris Helgren

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LONDON (Reuters) - The Financial Conduct Authority (FCA) said three men and a woman have been arrested on Wednesday and held in custody as part of an investigation into insider dealing and market abuse.

"The arrests are not linked to any other ongoing insider dealing investigation," the UK markets watchdog said in a statement.

The FCA, with the assistance of the Metropolitan Police, used search warrants in west London and arrested three men aged 29, 51 and 56, and a woman aged 25.

The four individuals did not work for major financial organisations and were not senior employees, who need regulatory approval before being handed important positions, a source familiar with the investigation said.

(Reporting by Huw Jones and Kirstin Ridley)

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