The Financial Conduct Authority (FCA) reported that Matthew and Nikolas West pleaded guilty at Southwark Crown Court to six instances of insider dealing following an FCA prosecution. Their sentencing hearing has been rescheduled from 3 July 2025 to 1 September 2025, and the FCA plans to apply for confiscation orders relating to the proceeds of crime. Between November 2016 and January 2020, Matthew West traded using confidential inside information in shares of Proactis Holdings Plc, Palace Capital Plc, Concha Plc and Bushveld Minerals Limited, and disclosed inside information on Asimilar Group Plc to Nikolas West, who then dealt on it. Total profits were GBP 42,948, and the inside information was obtained via legitimate broker “wall crossing” contacts, but was traded on and disclosed in breach of the associated non-trading and confidentiality obligations. Because the offences pre-date 1 November 2021, the insider dealing is punishable by a fine and/or up to seven years’ imprisonment. Sentencing is set for 1 September 2025.
Financial Conduct Authority 2025-06-26
Financial Conduct Authority secures West brothers’ guilty pleas for insider dealing with sentencing moved to 1 September 2025
The Financial Conduct Authority (FCA) announced that Matthew and Nikolas West pleaded guilty to insider dealing, with sentencing rescheduled to 1 September 2025. Matthew West traded shares using confidential information, generating GBP 42,948 in profits, while Nikolas West dealt on disclosed information. The offences, occurring between 2016 and 2020, are punishable by a fine and/or up to seven years’ imprisonment.