UK Regulator in Spotlight as Insider Trading Case Begins

(Financial Times) Five defendants will appear in the dock on Monday morning to face insider-trading charges in what is the UK’s largest and most complex case of its kind. It has taken more than eight years to get to this point. The case, brought by the UK’s financial watchdog, has been hampered by delays and was under the threat of collapsing. One defendant due to stand trial with his alleged co-conspirators will now not appear because of ill health, and the case’s very existence was threatened after barristers walked off their briefs two years ago when the UK government cut the amount of fees they would receive as part of reforms to the Legal Aid budget.

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