London – The Financial Conduct Authority (FCA) has issued fines totalling £108,731 ($148,548) to two individuals for insider dealing in shares of Bidstack Group PLC, a UK-based advertising technology company. Bidstack connects advertisers with video game publishers, allowing for non-intrusive in-game advertising. The company provides a platform for brands to reach a gaming audience.
According to a statement released by the FCA on Tuesday, Dipesh Kerai and Bhavesh Hirani were found to have engaged in illegal insider trading activities involving Bidstack Group PLC shares. The FCA investigation revealed that both individuals used confidential, price-sensitive information to their advantage, violating regulations designed to ensure fair and transparent markets.
The fines are intended to serve as a deterrent and underscore the FCA’s commitment to cracking down on insider dealing. The regulator continues to monitor market activity and will take action against those who attempt to profit illegally from privileged information.
The FCA’s enforcement action highlights the seriousness with which it views market abuse. The regulator aims to maintain market integrity and protect investors from unfair practices.
