Ex-BlackRock Portfolio Manager Pleads Guilty to Insider Dealing

By Razak Musah Baba

LONDON--Mark Lyttleton, a former equity portfolio manager at BlackRock Inc (BLK), has pleaded guilty to two counts of insider dealing, the U.K. financial regulator said Wednesday.

In a case heard at Southwark Crown Court, London, Mr. Lyttleton admitted dealing using insider information obtained during his employment at BlackRock, the Financial Conduct Authority said.

The two stocks concerned are EnCore Oil PLC, between Oct. 1, 2011 and Oct. 13, 2011, and Cairn Energy PLC (CNE.LN), between Nov. 4 2011 and Dec. 17, 2011.

Mr. Lyttleton was able to discover and act on inside information either by working on the deals concerning these stocks or by being party to conversations conducted by colleagues.

Mr. Lyttleton will be sentenced on Dec. 21, 2016, the FCA said.

Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet

(END) Dow Jones Newswires

November 02, 2016 07:30 ET (11:30 GMT)

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