Moore Capital is the latest major hedge fund to be associated with allegations of insider trading. British regulators raided the $14bn hedge fund's London offices Tuesday and arrested Julian Rifat, one of its traders, along with Clive Roberts of Exane and an unnamed worker at Deutsche Bank, in what they are calling a massive insider trading scheme.

In a statement Moore Capital said the investigation doesn't involve any of its funds. Julian Rifat, who according to reports worked on the equity execution desk, was put on administrative leave and Moore says it is cooperating.

Tuesday's case involved nearly 150 investigators and raids on 16 offices in an unprecedented joint effort by the Financial Services Authority and the Serious Organised Crime Agency. The probe started more than two years ago.