A Morrisons employee has been arrested as part of an investigation into insider trading.

The 49-year-old man from Harrogate, who hasn’t been named by police, was arrested as part of a Financial Conduct Authority (FCA) probe.

He is not believed to be on Morrisons’ management board, according to The Telegraph.

The FCA and Morrisons declined to comment on the arrest, which is not related to any previous investigation by the regulator.

Morrisons has been struggling with falling sales. Last month it unveiled a 2.4% dip in like-for-likes in the 13 weeks to November 3.