Laven Partners comments on FSA insider dealing raids on Bloomberg TV
Posted on 26 Mar 2010
Jerome Lussan, CEO of Laven Partners, appeared on Bloomberg TV earlier this week commenting on the FSA’s insider dealing operation which resulted in six arrests.
The FSA announced on Tuesday that in its first operation carried out with the Serious Organised Crime Agency, six men were arrested on suspicion of being involved in an insider dealing ring.
In the interview for Bloomberg TV Lussan said: “These arrests send a strong signal to the City. It is imperative that firms put in place robust systems and controls to protect their businesses in line with FSA rules. Investment managers which allow their employees to trade their private accounts need to be particularly vigilant.”
“Firms should invest in compliance resources either by using a fully dedicated in-house compliance officer or by employing external compliance consultants. Compliance needs to be an integral part of every financial institution.”