Two men have been charged with insider dealing offences committed over a four-year period, Britain’s Financial Conduct Authority (FCA) watchdog said on Thursday.
The FCA alleged that Matthew West, 43, handed 45-year-old Nikolas West confidential, price-sensitive information and encouraged him to trade in a scam that involved eight listed companies and ran from 2016 and 2020.
Reuters was not immediately able to identify the men’s lawyers or establish if the pair are related.
The FCA said the men, who will appear at London’s Southwark Crown Court on Oct. 31, profited to the tune of 110,000 pounds ($144,000).
At the time of the alleged offences, insider dealing carried a maximum jail sentence of seven years and a fine.
The watchdog declined to identify the companies affected or the bourse they were trading on.
($1 = 0.7625 pounds)
(Reporting by Kirstin Ridley)
