The Financial Services and Markets Tribunal has decided it was appropriate for FSA to impose a financial penalty on Andre Jean Scerri. Mr Scerri was a private investor who acted on inside information to profit from share dealing. FSA had originally required Mr Scerri to pay an amount for disgorgement of profits but planned not to require an additional penalty of £20,000 because of Mr Scerri's financial hardship. However, the Tribunal ruled the information he gave to FSA was incomplete and misleading, and that he made his own financial situation worse by investing and losing substantial funds after finding out about the penalty award. It ruled he should pay both the penalty and the disgorgement.