The UK Financial Services Authority has named the seven individuals it has charged today in connection with an alleged insider trading ring that profited from information passed on by people working for UBS and JP Morgan Cazenove.

The regulator named the seven individuals charged in connection with an investigation, dubbed Saturn, in a statement late this afternoon. The individuals are: Pardip Saini, Paresh Shah, Neten Shah, Bijal Shah, Truptesh Patel, Ali Mustafa and Mitesh Shah. They were unavailable for comment at time of going to press.