Suspect sought in 'market abuse' case

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The Independent Online

UK authorities are seeking the extradition of an eighth suspect at large abroad in an insider trading investigation by the Financial Services Authority.

Seven people were charged on Wednesday. The 21-month investigation involved data allegedly leaked from printing offices at the London branches of two leading banks, a source familiar with the case, which is codenamed Saturn, has told Reuters. The arrested men were linked to printing offices at the Swiss bank UBS and the UK brokerage Cazenove. The case centres on an alleged conspiracy to deal on inside information in 12 UK-listed companies, including Reuters, Misys, Morgan Crucible, Laidlaw, Biffa, Premier Oil and Thus, during 2007. Neither of the banks is accused of wrongdoing.