Central Bank fines former HealthBeacon employee €67,580 for insider trading

A former employee of HealthBeacon, the medical devices company that slid into examinership in 2023, has been fined €67,580 by the Central Bank of Ireland for insider trading as he sold shares in the company.

The regulator said that Alan Dalton sold shares in the company on two separate occasions in 2022 while in possession of price sensitive, material, inside information, relevant to the company. Neither the company nor any of its other employees or agents were the subject of this investigation, it added.

Dalton resigned and ceased working for the company on June 24th 2022. The trades took place in the weeks following his resignation.

“Trading while in possession of inside information, especially when an individual is in a privileged position to hold such information, is an abuse of the system and undermines the integrity of the market and as such is viewed very seriously by the Central Bank,” said Karen O’Leary, director of enforcement with the Central Bank.

“This outcome demonstrates the Central Bank’s willingness to investigate suspicious transaction and order reports (STORs) received from market intermediaries and follow our investigations through to the appropriate conclusion, holding those engaging in market abuse to account.”