GLG Analyst Arrested In London

Feb 28 2013 | 11:15am ET

A GLG Partners analyst was among three hedge fund employees arrested on suspicion of insider-trading yesterday.

Man, which owns GLG, said that one of its employees was among those brought in for questioning yesterday. It did not identify the employee, who has been suspended.

Man said that the Financial Services Authority has assured it that the arrest stemmed from the employee's actions "as a private individual and not as an employee of Man or GLG." It added that it was cooperating with the investigation.

The three men, all in the 30s, were arrested yesterday morning and released last night. No charges have yet been filed.

The FSA did not say much about the arrests, other than that they were not linked with any previously-announced insider-trading investigation. The regulator and London police executed six search warrants on homes and offices in the London area.

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