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Ex-investment manager at BlackRock charged with insider dealing

Published 29/09/2016

Mark Lyttleton faces a maximum sentence of seven years for insider trading offences after an FCA charge
Mark Lyttleton faces a maximum sentence of seven years for insider trading offences after an FCA charge

A former investment manager at BlackRock has been charged by the Financial Conduct Authority (FCA) with three counts of insider dealing.

Mark Lyttleton faces a maximum sentence of seven years for the offences, which relate to trading in equities and a call option between October and December in 2011.

He will appear at City of London Magistrates' Court on Thursday.

BlackRock said in a statement: "The FCA has informed us that the charges against a former employee relate to alleged actions carried out in 2011 for his personal gain, while off our premises, and that neither BlackRock, nor any employee, was under investigation.

"There was no impact to any of BlackRock's clients as a result of the alleged actions.

"The alleged behaviour is totally contrary to the firm's principles and values, and we strongly support aggressive enforcement of the law in these matters. As charges have now been brought we will not be able to make any further comment."

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From Belfast Telegraph