Enforcement

FCA charges solicitor with five counts of insider dealing over Seraphine Group acquisition

A solicitor allegedly traded in a client company's shares using confidential M&A information on five separate occasions. Criminal proceedings are now before the Crown Court.

Illustration: AI-generated

Verdict: context, not panic. This is a criminal enforcement action against an individual. If your firm handles price-sensitive information, treat it as a prompt to check your controls.

The FCA has charged Richard Bloomfield with five counts of insider dealing under section 52 of the Criminal Justice Act 1993. Bloomfield is a solicitor who, the FCA alleges, worked on an acquisition of Seraphine Group PLC at a law firm and used inside information obtained through that role to deal in the company's securities on five occasions between 28 March 2022 and 10 January 2023.

He appeared before Westminster Magistrates' Court, gave no indication of plea, and the case has been sent to Southwark Crown Court. His next appearance is scheduled for 5 August 2026. Bloomfield has been released on unconditional bail.

The FCA has confirmed it is not investigating the law firm or Seraphine Group in connection with this case. The charges are directed solely at the individual.

The alleged pattern here is familiar: someone with legitimate access to confidential deal information trades in the target company's securities ahead of a public announcement. Five alleged transactions across a ten-month window suggest this was not a one-off lapse. The FCA's decision to pursue criminal charges rather than civil market abuse proceedings signals it viewed the conduct as serious enough to seek a criminal conviction.

For compliance and legal teams at firms that routinely handle material non-public information, information barrier controls and personal account dealing policies exist precisely to prevent this. If your firm advises on transactions or receives deal information from clients, now is a reasonable moment to confirm those controls are being applied and monitored. Documented is not the same as working.

Sources

FCA charges individual insider dealingfca.org.uk

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