The crackdown on insider dealing suspects was stepped up today as the Financial Services Authority (FSA) brought its fourth criminal prosecution in 12 months.

Neil Rollins of Keighley, West Yorkshire, was charged with five counts of insider dealing and four counts of money laundering.

He is alleged to have sold shares in PM Group, the rubbish collection services company, in August and September 2006 with the benefit of inside information.

He is accused of selling over 73,000 shares in the company and encouraging another person, Louisa Rollins, to deal in the shares. Shortly after the alleged transactions, PM issued two profit warnings.

Mr Rollins, who is 44, appeared at City of Westminster Magistrates Court, was released on unconditional bail after proceedings were adjourned until February 18.

The FSA is under pressure to step up its pursuit of insider dealers amid evidence that cheats are still prospering by trading ahead of the announcement of price-sensitive information. Until recently it has solely used its non-criminal enforcement process to fine and or ban culprits.

Last June, Margaret Cole, the FSA's head of enforcement, said, "One of our goals is to get the City to take this subject (market abuse) more seriously. We feel that the threat of civil fines hasn’t worked as well as we would have liked. We’re convinced that the threat of a custodial sentence is a much more significant deterrent."

On February 23, Christopher McQuoid of Royston, Herts, and James Melbourne of Ripley, Derbs, are due to stand trial on charges of insider dealing in TTP Communications ahead of its takeover by Motorola in 2006. They have indicated pleas of not guilty.

In June the trial of Neel and Matthew Uberoi of Surrey is scheduled, while Malcolm Calvert of Surrey is due to stand trial in September on multiple counts of insider dealing. Mr Calvert has indicated a plea of not guilty.

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