A 37 year-old city professional and 28 year-old female have been taken into custody after raids were carried out at two addresses in London and in Germany, the regulator explained.
The probe is part of a joint investigation by the UKâs regulator and the prosecution authority in Hessen, Germany with both bodies taking responsiblility for the execution of the search warrants.
In a statement, the regulator said: âNo further details can be confirmed at this time. The arrests are not linked to any other ongoing insider dealing investigation."
The FSA and the City of London Police Economic Crime Directorate were responsible for making the two arrests in the UK.
Since March 2009, the UK regulator has successfully issued prison sentences to six individuals, with two of these suspended.
A further eleven people are scheduled to face trial over allegations of committing crimes in connection with insider dealing.
By Jim Ottewill