The FCA’s Regulatory Decisions Committee has discontinued market abuse proceedings brought against a Hickman & Rose client.
Hickman & Rose’s client was accused of disclosing inside information obtained in his senior role at a listed company. He was accused by the FCA of passing information about an upcoming transaction to his best friend, who bought shares in the target company.
The client denied all wrongdoing and was subject to a two year investigation, followed by market abuse proceedings. Following consideration of written and oral representations, the RDC directed Enforcement to discontinue the case.
Hickman & Rose’s Andrew Katzen and Tom Bushnell represented the individual from the outset of the FCA investigation and throughout the contested RDC proceedings. They instructed Jason Mansell and Kathryn Hughes at QEB Hollis Whiteman.
The FCA’s Notice of Discontinuance is here: Warning Notice Statement 26/2: Notice of Discontinuance
