Today at the Southwark Crown Court, Matthew and Nikolas West admitted guilty of confidential negotiation, following a prosecution of the United Kingdom’s financial behavior (FCA).
Between November 2016 and January 2020, Matthew West used confidential, means, information to deal with shares in four companies: Proactis Holdings Plc, Palace Capital Plc, Concha Plc and Bushveld Minerals Limited.
Matthew West also unveiled internal information to Nicholas’ brother West compared to a fifth company, Asimilar Group Plc. Nicholas west used this internal information to deal with.
Total profits from transactions were £ 42.948.
Matthew West received internal information from the brokers who came into contact with legal. He then revealed and negotiated using this information, which is contrary to the law.
Matthew and Nikolas West worked as a business day using their own accounts and through companies controlled by them, so they received internal information from brokers.
The brokers provide legal information through the “wall crossing”. The walls of walls means providing non -public and pricing information to third -party information and is a legal practice in financial markets. When investors “cross the wall” there is a non -commercial and confidentiality agreement.
The couple admitted guilty of six cases of confidential confidential transactions. They will be condemned on July 3, 2025 at the Southwark Crown Court. FCA will also apply for seizure orders in relation to crime revenue.