Major FCA Insider Dealing Trial: Client Acquitted
Client Acquitted in FCA Insider Dealing and Money Laundering Trial – Carson Kaye Secures Victory at Southwark Crown Court
We are pleased to report a significant result for Carson Kaye in one of the most complex and high-profile financial crime cases prosecuted in recent years by the Financial Conduct Authority (FCA). Our client, Mr Rogerio de Aquino, has been unanimously acquitted of all charges following a four-month trial at Southwark Crown Court.
The defence team was led by senior solicitor Piers Desser, with instructed counsel Adam Kane KC and James Walker of Libertas Chambers.
The prosecution formed part of the FCA’s leading enforcement action, Operation Naples — a substantial insider dealing and money laundering investigation involving analysts and traders operating within London’s financial markets.
Unanimous Not Guilty Verdicts in Insider Dealing Case
Mr de Aquino was one of several individuals charged with insider dealing and money laundering offences, allegedly committed between 2019 and 2021. The FCA contended that he had benefitted indirectly from trading activity based on confidential market information, using Contracts for Difference (CFDs).
Throughout the investigation and proceedings, Mr de Aquino consistently maintained his innocence. Following a rigorous and detailed trial, the jury returned unanimous not guilty verdicts on all counts. His good character remains fully intact.
This result underscores the importance of experienced legal representation in cases concerning alleged market abuse, particularly where the evidence involves complex trading strategies, financial records and extensive regulatory disclosure.
Specialist Defence Team in Financial Crime
The litigation in this case required:
- Comprehensive review and analysis of CFD trading records
- Examination of cross border financial transactions and account activity
- Detailed legal arguments regarding the FCA’s interpretation of Market Abuse Regulation
- Forensic deconstruction of expert methodologies and the assumptions relied upon by the investigating authority
The successful defence of Mr de Aquino reflects the strategic planning and technical excellence required to respond to serious allegations within the financial sector.
Experts in FCA Investigations and Financial Crime Defence
At Carson Kaye, we are recognised for our work in defending individuals and businesses accused of serious criminal and regulatory offences, including:
- Insider dealing and market abuse
- Money laundering and complex fraud
- Investigations led by the FCA and Serious Fraud Office
- Financial and corporate crime allegations
Our team has particular experience advising clients involved in CFD and other derivatives trading, as well as those facing allegations of misconduct arising from the use of offshore structures or informal investment groups.
Contact Us for Advice on FCA Investigations or Prosecutions
If you or your organisation is facing an investigation or prosecution in relation to FCA insider trading, financial market abuse, or money laundering, our experienced legal team is available to provide strategic and discreet advice.
