No, you really shouldn’t be doing that

Wizz Air has fired an executive after an investigation by regulators revealed he had breached rules governing trading by company insiders.

András Sebők, the budget airline’s chief supply officer, bought and sold shares on 114 different occasions without notifying the Financial Conduct Authority (FCA).

Thousands of the company’s shares were traded in Mr Sebők’s name between April 2019 and November 2020. Some £2.3m of shares were bought and £1.8m sold, according to analysis by The Telegraph of a stock market filing that was published on Thursday night.

Not just not informing, 114 transactions is not on for an exec.

4 thoughts on “No, you really shouldn’t be doing that”

  1. @Southerner

    If he had paid £2.3 for 10 shares and sold 1 for £1.8 he would have been doing all right.

  2. Quite right. Only senators are allowed to inside trade.

    Come Mr. Tallyman tally me banana …
    Etc. Etc. Etc.

  3. Allowing so-called insider trading would increase the information available in the market for everyone. It is a crime because legislators did not want to share in a small (possible) short-term advantage while the market digested news.

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