Ex-Ship Finance Director Fined Under Market Abuse Rules

Law360, London (December 20, 2019, 5:29 PM GMT) -- A former director of a London-listed shipbroker and marine finance business has been fined £45,000 ($59,000) for not notifying the Financial Conduct Authority about his personal trading activity as required under the U.K.’s market abuse rules, the watchdog said Friday.

The City regulator fined Kevin Gorman, former managing director of Cory Brothers, the logistics arm of Braemar Shipping Services PLC, for failing to disclose his personal trades in £71,235 worth of shares of the London-based company.

Gorman was required to update the FCA about his trading activities under Britain’s Market Abuse Regulations because he had a so-called personal discharging managerial responsibility...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!