Crime and punishment

Later this month Dorsey & Whitney partner Andrew Rimmington and former McDermott Will & Emery partner Michael McFall will appear at Horseferry Road Magistrates Court to face charges of insider trading. If successfully prosecuted, the pair face up to seven years in jail. They will answer the charges following their alleged involvement in drug company Novartis’ takeover of NeuTec Pharma in 2006. McFall has also been charged with disclosing non-public information.

This is the second criminal case of insider trading brought by the Financial Services Authority (FSA) in the past four months, following its successful prosecution of former TTP Communications general counsel Christopher McQuoid in March. For those UK lawyers handling sensitive information, the FSA is targeting you like never before.

Due to the criminal nature of the proceedings against McFall and Rimmington, the court document details are sketchy. However, McFall left McDermott earlier this year to set up his own corporate practice from an office in his South London home. A partner at Dorsey & Whitney until joining McDermott in 2004, McFall is considered a quality lawyer with close ties to Honda, The Carlyle Group and Pearson. A keen motor enthusiast and Fulham FC season ticket holder, McFall was well-liked by those clients who worked with him. Rimmington, meanwhile, joined Dorsey & Whitney in 1998 from Nabarro, where he had been an associate. Seen as close to former Dorsey UK head John Byrne, Rimmington made partner shortly after joining and worked on deals for clients including Fortune 500 companies Dana Corporation and Dover Corporation, and Innovation Group.

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