Andre De Simone, the former chief executive of stockbrokerage firm Kestrel Capital, tipped off two market dealers on the impending KenolKobil buyout by a French company setting off a series of transactions that later caught the attention of the market regulator, it has emerged.
A detailed report on an insider trading inquiry launched by the Capital Markets Authority (CMA) traces the leaked information to Mr DeSimone, who would later relinquish his position as Kestrel CEO to pave the way for investigations and his prosecution.
