C&C fined €90,000 over ‘insider’ lists

Drinks giant C&C has been hit with a €90,000 fine by the Central Bank for failure to maintain and update its so-called ‘insider’ list of advisers.

Every plc is obligated to keep an up-to-date list of advisers and people with prior knowledge of sensitive information due to be released to the stock exchange. These people have access to privileged information they could, in theory, use to trade shares in the firm before key information is formally announced. Insider lists should also mention people who no longer have access to such information.

C&C — chiefly known for its twin cider brands of Bulmers and Magners — was found to have breached the Central Bank’s market abuse regulations in this regard.