Martyn Dodgson, senior investment banker, and Andrew Hind, a qualified chartered accountant, have both been convicted of conspiring to insider deal between November 2006 and March 2010. Mr Dodgson obtained information about transactions through his position and asked Mr Hind to deal in the relevant shares.

The defendants put in place elaborate strategies designed to prevent the authorities from uncovering their activities, including the use of unregistered mobile phones, encoded and encrypted records, safety deposit boxes and the transfer of benefit using cash and payments in kind.

The FCA worked with the National Crime Agency on the investigation. These two convictions, alongside those of Paul Milson, Graeme Shelley and Julian Rifat bring to five the number of convictions secured in the Operation Tabernula insider dealing investigation. Three other defendants have been acquitted.

A copy of the FCA press release is available.