UK Financial Conduct Authority Begins Criminal Proceedings Against Two Individuals For Insider Dealing

Matthew and Nikolas West are jointly charged with conspiracy to deal in 4 stocks while having inside information.

Matthew West has additionally been charged with insider dealing in relation to 2 stocks. He has been charged with disclosing to and encouraging Nikolas West to deal in 2 stocks, and Nikolas West has been charged with dealing in those same 2 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.

Background

1. Matthew West was born 14 March 1981.
2. Nikolas West was born 14 December 1978.
3. 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.
4. Find out more information about the FCA.