Two men working at Pacific Continental Securities, the stockbroker which collapsed last year contributing to a £58m interim levy on investment advisers, have been fined a total of £100,000 and banned from working in financial services for market abuse.
William James Coppin was fined £70,000 and Perry John Bliss £30,000 for using inside information about AIM-traded company Provexis plc to encourage clients to buy its shares. Bliss's fine was reduced from an original £60,000 as the FSA deemed this amount would have caused him serious financial hardship. On 27 March 2007, Coppin and Bliss received an email from a colleague with the subject "Provexis". The text read: "Gentlemen, This script does not exist" and a sales script for Provexis plc shares was attached. The text of the script contained inside information stating Provexis ha...
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