An IT technician has been fined £85,000 by the City watchdog for insider trading after he accessed confidential e-mails and used the information to bet on a fall in Body Shop’s share price.

The fine is the first insider dealing case to be concluded in almost two years and comes as the Financial Services Authority increases its efforts to clamp down on the practice. The watchdog launched its first criminal prosecution for the offence this year and more are expected.