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Former BlackRock fund manager arrested in insider trading probe

May 14, 2013
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Source: Reuters

Asset manager BlackRock said on Tuesday that one of its former employees was arrested in April by City of London police on suspicion of insider dealing.

BlackRock did not name the individual but a source with knowledge of the matter said it was Mark Lyttleton, one of the firm's longest serving British-based fund managers who left the company in March.

The source said Lyttleton was one of the people to whom Britain's Financial Conduct Authority referred on May 3, when it said it had arrested and questioned a man aged 41 and a woman aged 37 on April 30 in West London, in connection with an investigation into insider dealing and market abuse.

A second source with knowledge of the matter said the woman who was arrested was Lyttleton's wife, but did not give her name.

The FCA said at the time neither individual was charged and the arrests are not linked to any other ongoing insider dealing investigation.

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