FCA and NCA arrest three in insider dealing and money laundering raid
The City regulator says more than 100 officers took part in dawn raids across London and Manchester as part of a crackdown on market abuse.
What happened
The Financial Conduct Authority has arrested three people as part of a joint operation with the National Crime Agency targeting a suspected organised crime group accused of insider dealing and money laundering. The arrests took place on 13 October, with more than 100 FCA and NCA staff carrying out searches at five residential addresses in London and Manchester.
Investigators seized more than 30 mobile phones, laptops and tablets during the raids. All three suspects are being interviewed by the FCA at police stations in London and Manchester. The regulator has not released further details, including the suspects’ identities or the specific trades under investigation, saying it will provide more information “when appropriate”.
Who is affected
The action is aimed at protecting the integrity of UK financial markets rather than individual consumers directly, but insider dealing and market manipulation can distort prices for shares and other investments held by ordinary savers, including those in pensions and investment funds. Steve Smart, the FCA’s executive director of enforcement and market oversight, said insider dealing “is a serious threat to the integrity of our markets” and that the regulator would “continue to use all the powers at our disposal to crack down on serious and organised crime groups engaged in market abuse.”
The wider enforcement picture
The FCA says the operation forms part of a broader push against financial crime under its five-year strategy. In the 2025/26 period, the regulator secured four insider dealing convictions, two of which resulted in record sentences totalling 11 years of imprisonment. A further twelve people were fined a combined £1.77m for offences including insider dealing, market manipulation and making misleading statements.
These figures mark some of the FCA’s most significant enforcement outcomes in this area to date, reflecting what the regulator describes as a sustained crackdown on organised abuse of financial markets.
What happens next
The three individuals arrested remain in police custody for questioning, and the FCA has said it cannot comment further on the case at this stage. No charges have yet been confirmed. The regulator has reiterated that members of the public with information about suspected insider dealing can report it confidentially via its telephone line on 0800 111 6768 or through its online reporting form.
No details have been given on when further updates, including possible charges or court proceedings, might be released. The FCA says fighting financial crime remains a stated priority within its current five-year strategic plan, and further enforcement action in this area is expected to follow as investigations continue.