In the UK, insider trading prosecutions are pretty rare. Indeed, there had never even been a criminal insider trading case in the UK until 2009, and to date there have only been a total of about two dozen criminal convictions for insider trading in the UK.
Pardip Saini is one of the few UK defendants who has actually been convicted and sent to prison for insider trading. In 2012, Saini was convicted and sentenced to three and a half years in prison for trading in shares of certain companies based on inside information he received from employees who worked in the print rooms at JPMorgan Cazenove and UBS, the FT reports. Saini was also ordered to pay back £465,000 in ill-gotten gains from his trading.
