Insider Dealing: Two appear at City of London Magistrates' Court
FSA/PN/006/2008
22 January 2008
Former General Counsel of TTP Communications Christopher McQuoid of Royston, Hertfordshire, date of birth 13 May 1968 and James William Melbourne of Ripley, Derbyshire, date of birth 9 September 1933 today appeared at City of London Magistrates' Court, on a charge of insider dealing contrary to section 52 of the Criminal Justice Act 1993.
They have been charged as follows: On the 30 May 2006, having inside information which related to a proposed cash offer from Motorola Incorporated for the entire issued share capital of TTP Communications PLC, acquired 153,824 shares in TTP Communications PLC.
The defendants indicated a plea of not guilty. The court declined jurisdiction and held that the case was suitable for trial on indictment. Committal proceedings were adjourned until 19 February 2008 and the defendants were remanded on unconditional bail.
Notes for editors
- The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and fighting financial crime.
- The FSA aims to promote efficient, orderly and fair markets, help retail consumers achieve a fair deal and improve its business capability and effectiveness.