UK insider-trading probe produces three arrests at major banks - report

An insider-trading probe that could become the UK's biggest linked to the crime has resulted in three employees at major banks being arrested, a report says.

The arrests occurred in recent months, Bloomberg reported, citing two sources and adding that more arrests were planned.

The probe involves the UK's Financial Conduct Authority (FCA), which is working with the National Crime Agency (NCA), the news agency reported.

A government report on the so-called Panama Papers scandal made an insider-trading probe public last week.

"The briefing said that a task force, set up to investigate leaked documents from a Panama law firm had 'identified a number of leads relevant to a major insider-trading operation' led by the FCA and supported by the NCA," Bloomberg reported.

The FCA declined to comment, while the NCA declined to immediately comment.

About six months ago the FCA ended a major trial in an insider-trading case that was named Operation Tabernula.