Mark Lyttleton today pleaded guilty to two counts of insider dealing dating back to 2011.

Former BlackRock equity portfolio manager Mark Lyttleton, who earlier this year was charged with three counts of insider dealing, today pleaded guilty to two of them, the Financial Conduct Authority said.

Lyttleton admitted dealing on the basis of insider information he obtained while at BlackRock, where he acted on publicly undisclosed details regarding two stocks, which in turn allowed him to prosper financially by purchasing shares before a public announcement was made.

The stocks concerned are of EnCore Oil and Cairn Energy.

The trading was conducted by Lyttleton in 2011 through an offshore asset manager trading on behalf of a Panama-registered company. He left BlackRock in early 2013 and was arrested later in the same year in West London along with his wife, who was dropped from the FCA’s investigation last year.

The case was heard at Southwark Crown Court. Lyttleton is scheduled for sentencing on 21 December, 2016, and faces up to seven years’ imprisonment.

WealthBriefing will follow this case and will provide reporting when appropriate.