01 · In plain English
What happened.
Russel Gerrity, an oil‑rig consultant, was fined £309,843 by the FCA for insider dealing. Between October 2018 and January 2022 he used non‑public exploration information to trade shares in Chariot Oil & Gas Limited and Eco (Atlantic) Oil & Gas Plc (making a net gain of £128,765 and on one occasion avoiding a loss). The FCA found breaches of Article 14(a) of the UK Market Abuse Regulations; Gerrity accepted the matter and qualified for a 30% stage‑1 settlement discount (the undiscounted penalty would have been £387,448).
Summary generated from the FCA notice and press reports. Check the final notice below before relying on it.
02 · Enforcement details
What the FCA published.
On 19 December 2025, the Financial Conduct Authority fined Russel Gerrity £309,843. This Final Notice refers to breaches of market abuse related to Market Abuse Regulation. We imposed a financial penalty. Source: the FCA's published list of 2025 fines. Notice:
03 · Press coverage
How it was reported.
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