The FCA has started a criminal prosecution against Matthew and Nikolas West 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.
Notes to editors
- Matthew West was born 14 March 1981.
- Nikolas West was born 14 December 1978.
- 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.
- Find out more information about the FCA.