The Financial Crime Authority has commenced criminal proceedings against two individuals in relation to several counts of insider dealing.
Financial Conduct Authority Charges | Rosenblatt’s Financial Crime Team
Mr Bayes and Mr Swann have been charged with allegedly committing insider dealing. Mr Bayes has also been charged with allegedly improperly disclosing inside information, or encouraging another, whilst being an insider, to engage in dealing.
The alleged insider dealing involved the use of shares in British Polythene Industries PLC (BPI) ahead of an announcement that RPC Group PLC was to acquire BPI. Mr Bayes was employed by RPC Group plc and Mr Swann worked as a tenancy support officer.
The alleged insider dealing resulted in a profit for the pair of approximately £138,000.
Criminal Prosecutions | Rosenblatt’s Financial Crime Team Explains
Mr Bayes and Mr Swann appeared at Westminster Magistrates’ Court on 11 February 2021. Insider dealing is punishable by a fine and/or up to 7 years’ imprisonment.
Rosenblatt can help
Rosenblatt has a wealth of experience in financial crime and is uniquely placed to support clients’ that are the subject of an FCA investigation and prosecution having defended one of the largest prosecutions brought by the Financial Conduct Authority.
