FCA charges ex-Morrisons head of tax with insider dealing

Laura Miller

The Financial Conduct Authority (FCA) has charged the former treasurer and head of tax at supermarket giant Morrisons with insider dealing.

The regulator said the offences committed by Paul Gerard Coyle relate to trading in online shopping delivery company Ocado Group plc shares between February and May 2013. It made no further statement about the case. The Daily Mail reported in January that Coyle bought shares in Ocado before a £216m deal for it to deliver Morrisons' food was announced. After the deal became public Ocado's share price rocketed. Morrisons' share price is down 2.34% today. The FCA said it is currently prosecuting eight other individuals for insider dealing.    

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Wealth managers