Contracts manager fined €67k for insider trading

The former employee sold his shares ahead of an announcement that the company was suffering from supply chain issues

The director of enforcement at the Central Bank, Karen O’Leary, described Mr Dalton’s behaviour as “an abuse of the system” which “undermines the integrity of the market.” File photo. 

The Central Bank of Ireland has fined a former employee at a medical technology manufacturer in Dublin over €67,000 after it found he had used inside information to avoid losing money from a share price plummet.

It is the first time the Central Bank has imposed disgorgement, a means of reversing unjust enrichment, as a sanction.