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Release Date: 7th April 2017

To access the original FCA document, click here.


Niall Stephen Patrick O’Kelly was fined £11,900 by the FCA for engaging in market abuse while serving as CFO at Worldspreads Limited (WSL) and Worldspreads Group plc (WSG). He disseminated false and misleading financial information, particularly in WSG’s AIM admission documentation and annual accounts, to mislead investors and the market about the company’s financial health. His actions were deliberate and significantly impacted market confidence, ultimately contributing to the collapse of WSG.

Key takeaways for other firms to avoid similar fate:

In conclusion, the case of Niall Stephen Patrick O’Kelly serves as a stark reminder of the importance of transparency, regulatory compliance, and ethical conduct in financial operations. Firms must take proactive measures to ensure their financial practices are beyond reproach to maintain market integrity and avoid severe penalties.

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