Investor Fined for Internet Posting
Shareholder fined £15k for posting sensitive company data online
2nd March 2005
The Financial Services Authority (FSA) has fined an investor £15k after finding that he posted confidential information online in an effort to influence the share price of a company he held shares in.
Mr David Isaacs became aware of sensitive information about Trafficmaster PLC, a company specialising in in-car satellite navigation systems and other traffic technology, while visiting an acquaintance's home.
Mr Isaacs already held 42,000 shares in the company, and posted this information to an online investment bulletin board in an attempt to influence share prices to his benefit.
The FSA said that while such bulletin boards were a good source of information for private investors, the posting of innappropriately obtained information that was not generally available amounted to market abuse.
Read More: FSA Press Release
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