February 11, 2021

UK FCA charges two with insider dealing

The UK Financial Conduct Authority has charged two men, Stuart Bayes and Jonathan Swann, with insider dealing contrary to section 52(1) of the Criminal Justice Act 1993.  Bayes has also been charged under section 52(2) of the Act for improperly disclosing inside information or encouraging another to trade on such information.

According to the FCA, Bayes was employed by RPC Group plc in 2016 when the company was in the process of acquiring British Polythene Industries plc.  At the same time, Swann worked as a tenancy support officer.  The defendants are alleged to have profited by £138,700 from the insider dealing.  

FCA press release