The Financial Conduct Authority (FCA) has fined Neil Sedgwick Dwane £100,281 for insider dealing and banned him from working in UK financial services. The FCA found that, while acting as an adviser to ITM Power Plc in 2022, he traded using inside information about a planned market announcement on 27 October that was followed by a share price fall of around 37%. The day before the announcement, Mr Dwane sold 125,000 shares belonging to himself and a family member for £124,287, then bought 180,000 shares for £140,700 after the price drop, generating a £26,575 gain from the price difference. The FCA noted he was required to obtain ITM’s permission before dealing in its shares but failed to do so, and described him as an experienced financial professional who knew his conduct amounted to insider dealing. Mr Dwane agreed to settle and received a 30% stage 1 settlement discount; absent the discount, the FCA would have imposed a £126,575 penalty plus interest on the £26,575 benefit.
Financial Conduct Authority 2025-12-15
Financial Conduct Authority fines Neil Sedgwick Dwane £100,281 and bans him for insider dealing in ITM Power shares
The Financial Conduct Authority (FCA) fined Neil Sedgwick Dwane £100,281 for insider dealing and banned him from UK financial services. Dwane, an adviser to ITM Power Plc, traded on inside information before a significant share price drop, profiting £26,575. He settled with a 30% discount on the penalty, which would have been £126,575 plus interest without the discount.