The UK Financial Conduct Authority (FCA) has started a criminal prosecution against Matthew and Nikolas West for insider dealing.
Matthew and Nikolas West are jointly charged with conspiracy to deal in four stocks while having inside information.
Matthew West has additionally been charged with insider dealing in relation to two stocks. He has been charged with disclosing to and encouraging Nikolas West to deal in two stocks, and Nikolas West has been charged with dealing in those same two stocks based on that insider information.
The alleged offending took place between 2016 and 2020. Matthew and Nikolas West made a profit of around £110,000.
The hearing took place at Westminster Magistrates Court on 3 October 2024. Matthew and Nikolas West will appear at Southwark Crown Court on 31 October 2024.
As these offences are alleged to predate 1 November 2021, when the maximum sentence available increased to 10 years, the insider dealing here is punishable by a fine and/or up to 7 years’ imprisonment.
