The FSA has fined Samuel Kahn £1,094,900 for engaging in market abuse in contravention of section 118(5) of the Financial Services and Markets Act 2000 by co-ordinating a scheme to deliberately inflate the share price of Global Brands Licensing - a company admitted to trading on the PLUS Quoted market. This is the first fine imposed under the FSA’s penalty regime which was introduced in March last year. The FSA has also obtained a High Court injunction restraining Mr. Kahn from committing further market abuse in view of this misconduct and previous misconduct (which was the subject of an FSA investigation and enforcement action in 2007).  

FSA Final Notice dated 24 May 2011 available at: http://www.fsa.gov.uk/pubs/final/samuel_nathan_kahn.pdf