Insider trading suspect made Morgan Stanley ‘investors who matter’ list

29 March 2010

Julian Rifat, one of the seven bankers arrested by the Financial Services Authority (FSA) on suspicion of insider trading, was named in a Morgan Stanley compiled list of top investors last year, newspaper reports have claimed.

The trader, employed by Moore Capital Management, was taken into custody on Tuesday (March 23rd) following a two year investigation by the FSA and Serious Organised Crime Agency.

He featured in a presentation given by Morgan Stanley in November 2009 named 15 Institutional Investors That Matter.

Mr Rifat’s position involved seeking the best prices for fund managers working with Moore’s investment portfolio.

In a statement, Kingsley Napley, the legal firm representing the accused, said: “Mr Rifat denies the allegations that have been made against him. He has not been charged with any offence. Mr Rifat is deeply distressed by the accusation and is working to clear his name as soon as possible.

“It would not be appropriate for us or for him to comment further at this stage in light of the fact that the investigation is on-going.”

As yet, none of the seven bankers arrested by the FSA have been charged.

By Jim Ottewill

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