Jersey Resident to Pay Restitution For Insider Dealing and Improper Disclosure

FCA fines, publicly censures and orders Jersey resident to pay restitution for insider dealing and improper disclosure.

The FCA has fined Gavin Breeze £59,557 for engaging in market abuse in the form of insider dealing and has also publicly censured him for improper disclosure.

Mr Breeze had attempted to sell his entire 8 per cent shareholding in AIM-listed MoPowered plc while in possession of inside information.

The FCA noted that Mr Breeze had proactively co-operated with the FCA investigation and had agreed to settle at the earliest opportunity which afforded him a total discount of 45 per cent over the initial penalty of £85,057.