The French Financial Markets Authority's Sanctions Committee has imposed total sanctions of EUR 50,000 on Ytane Mamou and his cousin Elie Houri for insider dealing breaches tied to inside information about the takeover of a listed company. The committee found that the takeover information was inside information and concluded that Mamou used it to buy the company's shares in July 2021 for his own account and for the accounts of his wife and father. It also found that he recommended an investment to Houri on the basis of that information and that Houri used that recommendation to buy shares. In reaching its decision, the committee examined indications including plausible channels for the transmission of the inside information, the atypical nature of the trades, their timing, the statements made by Mamou and Houri to investigators, and the lack of convincing explanations for the transactions. It imposed a EUR 30,000 sanction on Mamou and a EUR 20,000 sanction on Houri. The decision may be appealed.
France Autorite des marches financiers2026-05-21
French Financial Markets Authority Sanctions Committee fines two individuals EUR 50000 for insider dealing linked to a listed company takeover
The French Financial Markets Authority’s Sanctions Committee fined Ytane Mamou and his cousin Elie Houri a total of EUR 50,000 for insider dealing related to a takeover of a listed company. The committee found that Mamou used inside information to buy shares for himself and family members and recommended the investment to Houri, who also bought shares, and based its decision on trading patterns, timing, information transmission channels and the parties’ statements.