Gerard Pique Faces Major Fine in Spanish Insider Trading Scandal
Gerard Pique, former Spanish footballer, has been fined by the CNMV for trading on insider information regarding Atrys Health's acquisition of Aspy Global Services. The sanction is double that of Francisco Jose Elias, who shared the information. Despite the penalty, the decision can still be challenged in Spain's National Court.
The Spanish stock market regulator CNMV has imposed fines on Gerard Pique and Francisco Jose Elias following allegations of insider trading related to the acquisition plans of Atrys Health and Aspy Global Services in 2021.
Pique, recognized as the owner of FC Andorra and founder of the Kings League, received a fine twice as large as that given to Elias, indicating his role as the trade executor.
The trading activity took place before the confidential information became public, yielding Pique a gain. Sanctions are considered final within the administrative process, but they remain open for legal challenges.
(With inputs from agencies.)
Advertisement
ALSO READ
Transforming Anand Vihar: High Court's Task Force to Redefine Urban Spaces
Libya's National Oil Corporation, Trasta sign final deal ending Lerco partnership, Ras Lanuf refinery returns to full Libyan control
UPDATE 1-Germany extends employment guarantee at Schwedt PCK refinery
Germany extends employment guarantee at Schwedt PCK refinery
RPT-ROI-Volatility, not high prices, will define Big Oil’s next chapter: Bousso
Google News