Malcolm Calvert, a former equities marketmaker at stock broker Cazenove who was convicted earlier this week for insider trading, has been jailed for 21 months, the Financial Services Authority said.

Mr Calvert was found guilty at Southwark Crown Court of five counts of insider dealing after making £103,883 ($156,242) profit, the UK financial regulator, which brought the case, said.

The confiscation and costs hearing will take place on 23 April 2010.

The case was the third insider dealing case and third successful prosecution brought by the FSA.