FCA alleges solicitor used confidential takeover information to trade Seraphine securities
The Financial Conduct Authority (FCA) has charged solicitor Richard Bloomfield with five counts of insider dealing after alleging he used confidential information obtained while advising on the acquisition of Seraphine Group PLC to trade in the company’s securities.
According to the regulator, Bloomfield is alleged to have obtained inside information while working as a solicitor at a law firm involved in the acquisition of Seraphine Group PLC. The FCA claims he used that information to deal in the company’s securities on five occasions between 28 March 2022 and 10 January 2023.
Bloomfield appeared before Westminster Magistrates’ Court, where he gave no indication of plea. The case has been sent to Southwark Crown Court, where he is due to appear on 5 August 2026. He has been released on unconditional bail.
The FCA has emphasised that its investigation does not extend to either the law firm where Bloomfield worked or to Seraphine Group PLC.
The charges relate to the criminal offence of insider dealing under section 52 of the Criminal Justice Act 1993, which prohibits dealing in securities while in possession of inside information obtained through a person’s position, profession or employment.
For solicitors, the case serves as a reminder of the heightened legal obligations that arise when acting on corporate transactions involving price-sensitive information. Lawyers working on mergers, acquisitions and other market-sensitive matters must ensure confidential information obtained through their professional role is protected and never used for personal trading or disclosed inappropriately.
Although the proceedings remain at an early stage and no findings have been made by the court, the prosecution underlines the FCA’s continued focus on suspected market abuse involving individuals with access to confidential corporate information.
The FCA’s announcement is limited to the criminal charges and the procedural status of the case. No plea has yet been entered, and the allegations remain to be tested before the court.
The FCA confirmed that Richard Bloomfield, who was born on 23 May 1988, faces five counts of insider dealing. The regulator has not alleged wrongdoing by any other individual or organisation in connection with this case.
The criminal proceedings will now continue before Southwark Crown Court, where the next hearing is scheduled for 5 August 2026