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Irish police have arrested and questioned four individuals on suspicion of insider trading under the European Union's Market Abuse Regulations. All four men were detained in the east of the country before being released without charge, as a file is readied for the Director of Public Prosecutions. The investigation was triggered by a referral from the Central Bank to the Garda National Economic Crime Bureau.
Gardaí arrested and questioned four men in recent days in the east of the State as part of an investigation into suspected insider trading offences.
The men have since been released without charge and files are being prepared for the Director of Public Prosecutions. On Tuesday morning, gardaí arrested two men, one aged in his 70s and the other in his 50s on suspicion of market abuse, contrary to Regulation 5 of the European Union (Market Abuse) Regulations 2016, the force said in a statement. They were taken to a station in the east of the State before later being released without charge.
Insider Dealing Definition Under Regulation 5
Regulation 5 makes it a criminal offence for any person to engage, attempt to engage, recommend, induce or aid and abet insider dealing in a share, bond or other financial instruments on the basis of information not in the public domain that could affect is value. Gardaí subsequently arrested a further two men, aged in their 60s and 50s, on Wednesday morning on suspicion of market abuse, contrary to the same rule.
They were also detained at a station in the east of the State before being released without charge. Files will now be prepared for the DPP, the statement said. This investigation followed "comprehensive work" by the Central Bank that led to a formal referral to the Garda National Economic Crime Bureau (GNECB), it said.
GNECB Central Bank Partnership Investigation
"The extensive investigation carried out by GNECB has progressed with the assistance of personnel attached to the Central Bank of Ireland and their expertise and experience has been invaluable," the Garda statement said. "This investigation is one of a number of ongoing investigations for market abuse at the Garda National Economic Crime Bureau. "
Insider Trading Gardaí Central Bank Market Abuse DPP
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