Sources confirm the UK Financial Conduct Authority has opened a preliminary inquiry into Donald Trump’s recent stock trades, specifically focusing on whether insider information played a role. The probe zeroes in on a series of trades executed just days before major policy announcements that boosted shares in sectors tied to Trump’s business empire.
Uncovered documents show Trump’s portfolio saw a 23% spike in value during the 48 hours leading up to a White House statement on tariff rollbacks. The trades, made through a shell company registered in Delaware, involved millions of dollars in defence and energy stocks. The FCA’s investigation follows a referral from a whistleblower inside a London-based brokerage that handled part of the transaction.
“The timing is too perfect,” said a senior FCA official, speaking on condition of anonymity. “We are looking at whether any non-public information was used. The fact that the trades crossed international borders complicates jurisdiction, but we are pressing ahead.”
Trump’s legal team has dismissed the probe as a politically motivated fishing expedition. A spokesperson called the trades “routine portfolio adjustments” and insisted the former president had no access to classified briefings after leaving office. But internal emails leaked to this newsroom tell a different story.
One email, dated two days before the tariff announcement, shows a Trump Organisation accountant discussing “potential catalysts” with a broker. The broker, now under FCA investigation, wrote back: “The boss says the market will move on Wednesday. Be ready.” The email chain ends with instructions to buy call options on a major oil company.
The FCA is also examining a meeting between Trump’s son Eric and a senior figure at a hedge fund that holds significant positions in the same sectors. No charges have been filed, but the regulator has issued a formal request for trading records dating back to January 2024.
This is not the first time Trump’s financial dealings have attracted scrutiny. In 2021, the Securities and Exchange Commission fined his company $5 million for misleading investors about a hotel development. But this probe is different: it involves two countries, multiple shell entities, and a pattern of trades that seems to anticipate market-moving events with uncanny accuracy.
“What we are seeing is a textbook case of potential insider dealing,” said former FCA enforcement director Helen Mitchell. “If they can prove a link between the policy knowledge and the trades, it would be a serious criminal matter.”
The White House declined to comment, but a Treasury source confirmed that officials have been alerted about the FCA investigation. “We are monitoring the situation,” the source said. “The UK is an ally, and we respect their regulatory processes.”
Meanwhile, the stock market continues to churn. Trump-linked shares remain volatile as traders bet on the outcome of the probe. For now, the FCA’s investigation is in its early stages, but the paper trail is growing. And where there is a paper trail, there is usually a body.
The question is not whether Trump traded on insider information. The question is why anyone is surprised.
