Millions face British Gas price hike: Energy bills for dual fuel customers will increase by an average of 5. Is investing in stocks gambling you heed a ‘wealth warning’ on fund charges? A trader at one of Britain’s most prestigious investment houses impersonated members of his own family in an insider trading scam.
155,000 from illicit gambling on stocks. He was jailed yesterday for two years, and during his trial Southwark Crown Court heard he used secret information about upcoming deals to make a profit. The 40-year-old was arrested at his desk in the City following an investigation into nine years of illegal trading. He mostly carried it out in the office moments after being sent advance information on deals involving companies in which Schroders was a shareholder.
Clarke used his own name and the names of family members to buy and sell shares. His deception meant four of his family were arrested during the probe by the Financial Conduct Authority, before the investigation against them was discontinued. Clarke, who lives in Lincolnshire, was charged with nine counts of insider trading on firms including housebuilder Swan Hill Group and plumbing and heating firm BSS Group. He admitted seven of the counts in July last year after initially denying them, then pleaded guilty to the final two less than a week before his trial was due to start.
Clarke’s lawyer Anthony Bell said he had needed psychiatric help since his arrest and had even contemplated suicide. He cried as the sentence was read out yesterday. Clarke is no longer employed by Schroders, and these proceedings relate entirely to his personal actions. Schroders has not been subject to any investigation, and has provided full co-operation to the FCA. For current account rewards and interest conditions may apply eg. 1,200 at a purchase interest rate of 18. Could these LED lights on crossings save lives on the road?
Investing Show: What’s gone wrong with the Fang stocks? Can the good times return for investors? Will stock markets start to rise again? Can you change a name on a plane ticket? No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards.
We are no longer accepting comments on this article. Where are the best places to invest in 2018 – and will UK shares be one of them? As house prices slow and tax hikes bite, is buy-to-let still worth doing? Will you get a tax cut this year? Millions see take-home pay rise on Friday – but savers and landlords will lose. Gentrack recently upgraded earnings guidance by about 20 per cent. I regularly get to experience the pleasure of presenting at investor events.
I love to debunk limitations that investors perceive they have and turn them into opportunities for those who can think laterally. I’m regularly asked whether investing in tech stocks is a US-only game. In the most recent case, an investor lamented that the US had a much larger number of tech stocks listed on its exchanges. The tech-heavy NASDAQ is trading at a record high, 30 per cent above peak reached before the tech wreck in 2000. By contrast, Australia’s information technology sector, according to the Global Industry Classification Standard, is the smallest of 11 sector groupings by market capitalisation.