June 14, 2016 / 7:51 AM / 4 years ago

Schroders ex-trader gets two years' jail for insider trading

(Reuters) - Damian Clarke, a former equities trader at Schroders Investment Management, has been sentenced to two years imprisonment for insider trading, Britain’s financial watchdog said.

Clarke pleaded guilty to nine counts of insider trading spanning nine years, the Financial Conduct Authority said on Monday, adding that the profits made from the deals amounted to at least 155,162 pounds ($221,400).

Clarke pleaded guilty to seven counts of insider trading on July 24 last year. In March this year, he pleaded guilty to the remaining two counts in London's Southwark Crown Court. (yhoo.it/1UedjZj)

Schroders, one of Britain’s largest investment managers, did not immediately comment on the news.

($1 = 0.70 pounds)

Reporting by Noor Zainab Hussain in Bengaluru, additional reporting by Mamidipudi Soumithri; Editing by Kirti Pandey

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