The UK’s Financial Conduct Authority has started a criminal prosecution against Matthew and Nikolas West for insider dealing.
In a statement on 3 October, the regulator said 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.
