Wizz Air executive sacked after breaching trading rules – Telegraph.co.uk

A spokesman for the FCA said: “We are aware of the issue and in contact with the firm.”

Mr Sebők joined Wizz in 2004 and has stayed with the carrier as it grew to become one of Europe’s biggest low-cost airlines.

He worked in the airline’s treasury, financial planning, fleet acquisition, and corporate finance departments before being promoted to chief supply officer in April 2019.

Market abuse regulations state that “persons discharging managerial responsibilities” must notify the company and FCA about share purchases and sales of shares in their employer within three business days.

There is little precedent in relation to breaches of the rules. Kevin Gorman, managing director of a division of Braemar Shipping was the first person to be fined in December 2019. 

Mr Gorman’s penalty was £45,000 after breaching the rules on three occasions. The fine took into account that the shares were awarded by the company as part of his employment.

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