LONDON Dec 13 Thomas Ammann, a banker who
encouraged two girlfriends to buy shares based on privileged
information, has been sentenced to two years and eight months'
jail for insider dealing, Britain's financial regulator said on
Ammann, who worked in London for Mizuho International
, encouraged his girlfriends to buy shares in Dutch
photocopier firm Oce prior to its takeover by Canon,
and shared the profits with them, the Financial Services
Authority (FSA) said.
Both women were acquitted last month. The FSA said it made
no criticism of Mizuho International.
"This sort of behaviour by city professionals not only
brings the individual into disrepute but damages the reputation
and standing of the financial services industry as a whole,"
said Tracey McDermott, the FSA's director of enforcement.
"We are determined to stamp this out."
The FSA, which adopted a tougher approach to enforcement
after the 2008 crisis led to criticism of its previous "light
touch" style of regulation, has now secured 21 insider dealing
convictions since 2009.