A former equity portfolio manager at BlackRock has pleaded guilty to two counts of insider dealing and is due to be sentenced on 21 December.
Mark Lyttleton admitted to Southwark Crown Court that he had traded on the basis of inside information he obtained during his time at BlackRock.
He worked within the fundamental equity team and “was able to discover and act on inside information by working on deals concerning stocks,” the Financial Conduct Authority (FCA) has said.
The charges are related to two stocks he traded in 2011, where inside information was used to purchase shares a short time before any public announcement was made.
The FCA said it has now secured 30 convictions for insider dealing over the past five years.