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If Paul Smith of Morses Club does not go to jail for insider dealing the FCA is admitting that it is a not fit for purpose joke!

By Tom Winnifrith, the Sheriff of AIM | Monday 21 February 2022

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Today Morses Club (MCL) served up a horrible profits warning and announced that its CEO Paul Smith was leaving with immediate effect.  The shares have crashed by 26p to just 15.95p. But last last week one lucky trader dumped 464,119 shares at 42.65p almost his entire holding. That lucky trader was Paul Smith. If this is not insider dealing I am a banana. Here is the timeline and why the FCA MUST feel Smith’s collar asap.

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