Court of Appeal gives sentencing guidelines in FSA's first insider dealing case

Michael Bowes QC appeared for the Respondent (FSA) in an appeal against sentence by Christopher McQuoid. In March 2009 McQuoid and Melbourne (his father in law) were found guilty of insider dealing which resulted in a net profit of nearly £50,000. McQuoid appealed against his sentence of 8 months' imprisonment. The Court of Appeal dismissed the appeal, holding that immediate imprisonment was appropriate and the sentence was as merciful as possible. The Court stated that insider dealing was a species of fraud and cheating and prosecution in open court was appropriate. The Court gave guidance on the relevant factors in sentencing for offences of insider dealing.

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http://business.timesonline.co.uk/tol/business/law/reports/article6555930.ece