FCA charges former Treasurer and Head of Tax at Wm Morrison with insider dealing

Published: 29/09/2014     Last Modified: 29/09/2014

The Financial Conduct Authority (FCA) has charged Paul Gerard Coyle (DOB: 20/04/1964), the former Treasurer and Head of Tax at Wm Morrison Supermarket plc (Morrison) with two offences of insider dealing, contrary to Section 52(1) of the Criminal Justice Act 1993.

The offences relate to trading in Ocado Group plc shares between February and May 2013.

Notes for editors

  1. The FCA, and previously the Financial Services Authority, have secured 24 convictions in relation to insider dealing: Christopher McQuoid and James William Melbourne in March 2009; Matthew and Neel Uberoi in November 2009, Malcolm Calvert on 11 March 2010, Anjam Ahmad on 22 June 2010, Neil Rollins on 21 January 2011, Christian Littlewood and Angie Littlewood on 8 October 2010 and Helmy Omar Sa'aid on 10 January 2011,  Rupinder Sidhu on 15 December, and James and Miranda Sanders together with James Swallow in May 2012  and  Ali Mustafa, Pardip Saini, Paresh Shah, Neten Shah, Bijal Shah and Truptesh Patel on 27 July 2012, Thomas Ammann on the 13 December 2012, Paul Milsom on 7 March 2013, Richard Joseph on the 11 March 2013 and Graeme Shelley on 27 March 2014.
  2. The FCA is currently prosecuting eight other individuals for insider dealing:
    Martyn Dodgson 11 January 2016
    Andrew Hind 11 January 2016
    Benjamin Anderson 11 January 2016
    Iraj Parvizi 11 January 2016
    Richard Baldwin 11 January 2016
    Grant Harrison 11 January 2016
    Julian Rifat Trial date to be confirmed
    Damian Clarke Trial date to be confirmed
  3. The Financial Services and Markets Act 2000 gives the FCA powers to investigate and prosecute insider dealing, defined by The Criminal Justice Act 1993.
  4. Individuals with information about market abuse can call the FCA’s market abuse hotline on 020 7066 4900.
  5. On the 1 April 2013 the Financial Conduct Authority (FCA) became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA).
  6. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
  7. Find out more information about the FCA.

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