FSA fines investors £20,000 for market abuse

Stewart McKegg and Brian Valentine Taylor - both private investors in Amerisur Resources Plc - were fined £14,411.25 and £4,642.50 respectively for the offence. The regulator says that if it were not for their financial circumstances both would have been fined an additional £20,000. Both were individually contacted by Amerisur's broker on 23 May 2007 to inform them of a placing of Amerisur shares to be announced the following day. This was at a substantial discount to the market price. During the telephone calls they were informed that this was inside information and confidential. The inv...