Britain's FCA charges two with insider dealing in GCP Student Living bid case

Reuters

11/26

Nov 26 (Reuters) - Britain's financial regulator on Wednesday commenced criminal proceedings against two individuals for insider dealing related to a potential transaction involving investment trust GCP Student Living Plc, the Financial Conduct Authority $(FCA)$ said in a statement.

Bobosher Sharipov, who worked at investment bank Jefferies International Ltd and advised GCP Student Living on a potential takeover, is charged with leaking confidential inside information about the deal to his friend and business associate, Bekzod Avazov. Avazov then placed trades that generated a profit of almost 70,000 pounds ($92,449.00), the FCA said.

($1 = 0.7572 pounds)

(Reporting by Shanima A in Bengaluru; Editing by Tasim Zahid)

((shanima.a@thomsonreuters.com; (Direct: +91 72 5956 7774);))

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