Peters & Peters is pleased to have secured a suspended sentence for our client, Matthew West, in relation to proceedings brought by the Financial Conduct Authority (FCA) for insider dealing.

Mr West was formerly a self-employed trader in the City, who earlier this year pleaded guilty to five counts of insider dealing. Mr West’s pleas followed extensive negotiations with the FCA, which not only resulted in the FCA accepting guilty pleas to a reduced number of counts, but an agreed confiscation and costs figure.

In his judgment, HHJ Hehir gave significant weight to the Court of Appeal’s view in R v McQuoid that insider dealing is a serious criminal offence and that there should be an element of deterrence in sentencing, generally resulting in substantial sentences of imprisonment for offenders.

Notwithstanding this, the extensive mitigation prepared on our client’s behalf, and presented in detailed written and oral submissions at Court, ultimately led HHJ Hehir to conclude that the case merited a suspended sentence. Our client received a sentence of 15 months’ imprisonment, suspended for two years, with an unpaid work requirement. As confiscation and costs had been agreed with the FCA beforehand, HHJ Hehir upheld this figure in his judgment.

This judgment is an important reminder that a suspended sentence can be a just outcome in complex financial crime cases.

The Peters & Peters team was led by Neil Swift, Rachel Cook, and Abbie Melvin. Christopher Coltart KC and Gabriele Watts, both of 2 Hare Court, were instructed as counsel on behalf of Mr West.