Deals, deals, deals.

A former partner at Cazenove, the Queen’s stockbroker, who is due to stand trial on insider-dealing charges next week appeared in court for a pre-trial hearing yesterday.

Malcolm Calvert, a former trader who retired from Cazenove in 2000, is accused by the Financial Services Authority (FSA) of 12 counts of insider dealing relating to upcoming takeovers in which Cazenove was involved.

He is alleged to have exploited inside knowledge to buy hundreds of thousands of shares in six companies, including HP Bulmer and RAC between 2003 and 2005, after he had left Cazenove.

Mr Calvert, 65, from Cobham, Surrey, appeared at Southwark Crown Court, where his three-week trial is due to begin on Monday. He previously had pleaded not guilty and took no part in yesterday’s proceedings before Judge Peter Testar.

Two witnesses gave evidence — a consultant neurologist and a psychologist. Since the case is due to come before a jury, which was not present, the details of what the witnesses said cannot be reported.

The FSA was represented by Peter Carter, QC, and Sarah Clarke. Margaret Cole, the FSA’s director of enforcement and financial crime, and David Kirk, the FSA’s chief prosecutor, sat in the public gallery. Mr Calvert was represented by Hugo Keith, QC.

The case against Mr Calvert is the highest-profile FSA prosecution to date. Although he is retired, his pedigree as a former partner at Cazenove means that the case is being watched closely throughout the City.

The FSA, which assumed responsibility for criminal insider-dealing prosecutions in 2001, has successfully completed two cases and has another two under way.

Seems like an inadequate number of cases considering the fallout from the big Crunch.