Christopher Gent fined £80,000 by FCA for disclosing inside information

UK regulator rules that businessman breached fiduciary duties by sharing ConvaTec information

Sir Christopher Gent, the former chief executive of Vodafone and ex-chair of GlaxoSmithKline, has been fined 80,000 by the UK financial watchdog for disclosing inside information to shareholders while chair of the medical-devices maker ConvaTec.

The Financial Conduct Authority (FCA) has fined Gent, one of the most prominent figures in British business, after ruling that he shared information relating to a revision of the financial performance of ConvaTec and plans for the retirement of its chief executive to senior individuals at two of the London-listed company's biggest shareholders.