French Analyst Settles Belgian Market Abuse Case
Law360, London (June 12, 2019, 5:55 PM BST) -- Belgium's financial regulator has reached a €57,000 ($64,000) settlement with a French analyst who made thousands of euros in illegal profits by trading on privileged information about company clients.
The unnamed analyst used insider information gleaned from draft reports about two Belgium companies to make so-called contracts for difference bets on whether the share price would rise or fall, shorty before his office was due to publish ratings on the same companies, Belgium’s Financial Services and Markets Authority said Tuesday.
He is accused of illegal trading shares in Belgian Solvay SA, Umicore SA and D'Ieteren SA. The activity took place between...
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