The Financial Services Authority (FSA) has launched its first criminal charges for insider trading – against a former general counsel.
Christopher McQuoid, former general counsel at Hertfordshire-based telecoms company TTP Communications, and father-in-law James William Melbourne are accused of insider trading ahead of an £103m offer made for TTP by Motorola in June 2006. The pair are accused of buying 153,834 shares two days ahead of the announcement of the bid.
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