Man Group confirms GLG analyst being questioned by FSA

An analyst from GLG, which is owned by alternative asset manager Man Group, has been arrested by the Financial Services Authority (FSA) and the Metropolitan Police.

In a statement issued on Wednesday, the FSA, reported that it had executed six search warrants in the City of London and Greater London Area.

Three men aged 33, 37 and 39 were arrested to be questioned in connection with an investigation into insider dealing and market abuse. The FSA said that none of the individuals had been charged and did not release names.

A spokesman for Man Group, the parent of GLG, confirmed to ShareCast that an employee of GLG had been arrested by the FSA and Metropolitan Police.

He said: "Man has been informed by the FSA that the investigation concerns the individual's actions as a private individual and not as an employee of Man or GLG.

"Neither Man nor GLG is the subject of the investigation and we have cooperated fully with the FSA's enquiries. The employee has been suspended," he added.

Earlier this morning, Man Group published its full-year results for 2012.

Adjusted profit before tax rose to $278m in the full year to December 31st from $262m in the nine months to December 31st 2011.

Man's share price was up 3.20% to 106.30p at 10:05 on Thursday.

MF