Jersey company director fined for insider dealing and improper disclosure

The Financial Conduct Authority has imposed a £59,557 penalty on Gavin Breeze for insider dealing as well as publicly censured him for improper disclosure. A director of several private companies and a non-executive director of an AIM-listed business, the Jersey resident tried to sell his 8% shareholding in MoPowered plc while possessing inside information, because he wanted to avoid a loss of up to £242,000. He also passed the inside information to another shareholder.