LONDON, Sept 29 Mark Lyttleton, a former fund
manager at the UK division of asset manager BlackRock Inc
, has been charged with insider dealing by Britain's
The Financial Conduct Authority (FCA) said on Thursday it
had charged 45-year-old Lyttleton with three counts of insider
dealing relating to trading in equities and a call option
between October and December 2011.
Lyttleton worked at BlackRock Investment Management (UK) Ltd
between 2001 and 2013, according to the FCA's register of
financial appointments. He was arrested on suspicion of market
abuse in April 2013, according to one source familiar with the
He has now been ordered to appear before City of London
Magistrates' court on Sept. 29.
His lawyer was not immediately available for comment.
Blackrock, the world's largest asset manager, said in an
emailed statement that the alleged behaviour was "totally
contrary to the firm's principles and values" and that it
strongly supported "aggressive enforcement of the law".
"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," it said.
"There was no impact to any of BlackRock's clients as a
result of the alleged actions."
Insider dealing is a criminal offence in the UK and is
punishable by a fine and up to seven years in jail.
(Reporting by Kirstin Ridley. Editing by Jane Merriman)