LNB News 09/05/2025
Document Information
Issue Date: 09 May 2025
Published Date: 09 May 2025
Jurisdiction(s): England, Northern Ireland, Scotland and Wales
The Financial Conduct Authority (FCA) has announced that two brothers, Matthew and Nikolas West, have pleaded guilty to insider dealing at Southwark Crown Court. Between November 2016 and January 2020, Matthew West obtained confidential information from brokers through the legitimate process known as wall crossing—a standard market practice for sharing non-public, price-sensitive data. He used this information to trade shares in Proactis Holdings Plc, Palace Capital Plc, Concha Plc, and Bushveld Minerals Limited, and subsequently disclosed the details to his brother, who traded shares in Asimilar Group Plc. Their transactions resulted in total profits of £42,948. Both brothers, operating as professional day traders, pleaded guilty to six instances of insider dealing. Sentencing is scheduled for 3 July 2025, and the FCA is set to apply for confiscation orders with regards to the related proceeds.
To continue reading this news article, as well as thousands of others like it, sign in with ³ÉÈËÓ°Òô or register for a free trial
EXISTING USER? SIGN IN CONTINUE READING GET A QUOTE
To read the full news article, register for a free Lexis+ trial
**Trials are provided to all ³ÉÈËÓ°Òô content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these ³ÉÈËÓ°Òô services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
* denotes a required field
If planning permission imposes restrictions on a licensed premises opening hours, once operational can the personal licence holder apply for a Temporary Events Notice (TEN) to open for longer hours than those permitted in the planning permission?To use any property for a licensable activity both
Financial clean break orders in family proceedingsDuty of the court to consider a clean breakAlthough there is no presumption in favour of there being a financial clean break between parties on divorce, the court is under a duty to consider whether it would be appropriate to exercise its powers so
Early leavers—preservationFORTHCOMING DEVELOPMENT: Section 10 of the Finance Act 2022 will increase the normal minimum pension age (NMPA) from 55 to 57 on 6 April 2028 (save for members of the firefighters, police and armed forces public service pension schemes).The Finance Act 2022 will also give
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
0330 161 1234