An individual has been fined £59,500 for market abuse having required a company, of which he was a director and shareholder, to engage in behaviour which, if engaged in by him, would have amounted to market abuse (contrary to section 123(1) FSMA). He directed the company to buy shares in an AIM listed company, of which he was also a director, knowing that it was in advanced joint venture discussions. His knowledge was imputed to the purchasing company (although its other directors were unaware of the information) and it was fined £86,030 for insider dealing (contrary to section 118(2) FSMA).  

View Darwin Lewis Clifton OBE, Byron Holdings Limited, 27 January 2009