Weekend Trivia24 Oct 2025 23:26
FCA Fines Adviser £100K for Insider Dealing in ITM Power Shares
Britain’s Financial Conduct Authority has fined investment adviser Neil Sedgwick Dwane £100,281 and banned him from the financial services industry for insider dealing linked to hydrogen-equipment manufacturer ITM Power. The case underscores how even external advisers can be caught under the UK’s market-abuse regime.
According to the regulator’s final notice, Dwane sold 125,000 ITM shares on 26 October 2022, a day before the company issued an unscheduled trading update that drove its stock down by roughly 37%. When the announcement was released at 8 a.m. the following day, ITM shares plunged from 104.45 pence to an intraday low of 66.02 pence. Dwane then bought 180,000 shares at the lower price, pocketing an estimated £26,575 profit.
The FCA said Dwane traded while aware of inside information and failed to obtain pre-clearance under ITM Power’s internal dealing rules. He later accepted that the trades constituted insider dealing. His fine was reduced by 30% under the regulator’s early-settlement procedure, from £126,575 plus interest to £100,281.
https://financefeeds.com/fca-fines-adviser-100k-for-insider-dealing-in-itm-power-shares/