The Financial Conduct Authority has commenced criminal proceedings against Bobosher Sharipov and Bekzod Avazov for alleged insider dealing linked to a potential takeover of GCP Student Living Plc. It alleges that Sharipov, while working at Jefferies International Limited and advising on the transaction, improperly disclosed inside information to Avazov, who then traded GCP Student Living shares and spread bets to make almost GBP 70,000. The alleged conduct took place in 2021 and was detected through the FCA’s market monitoring systems, which identified Avazov’s trading as suspicious due to its timing and profit. FCA analysis of public records indicated the two defendants were former colleagues and flatmates. Sharipov is charged under section 52(2)(b) of the Criminal Justice Act 1993 for improper disclosure of inside information, while Avazov is charged under section 52(1) for dealing in price-affected securities in relation to inside information. Jefferies cooperated with the investigation. The defendants appeared at Westminster Magistrates’ Court and the case has been sent to Southwark Crown Court, with neither indicating a plea. Insider dealing is punishable by a fine and or imprisonment of up to seven years for offences during the period of these alleged offences, and up to 10 years for offences committed on or after 1 November 2021.
Financial Conduct Authority 2025-12-03
Financial Conduct Authority starts criminal insider dealing case over alleged GCP Student Living takeover information leak
The Financial Conduct Authority has initiated criminal proceedings against Bobosher Sharipov and Bekzod Avazov for alleged insider dealing related to a potential takeover of GCP Student Living Plc. Sharipov is accused of improperly disclosing inside information to Avazov, who then traded shares and spread bets, profiting nearly GBP 70,000. Detected through FCA’s market monitoring systems, the case has been sent to Southwark Crown Court, with insider dealing punishable by fines and imprisonment.