Alan Dalton fined €67,580 for two insider dealings
Alan Dalton will pay €67,580 after admitting two insider dealings in HealthBeacon PLC shares in 2022. The Central Bank of Ireland imposed disgorgement of avoided losses and a separate monetary penalty, reduced under a settlement.
Avoided losses recovered in full
The Central Bank of Ireland (CBI) imposed sanctions on November 10, 2026, for two breaches of Article 14(a) of the Market Abuse Regulation (MAR).
Dalton sold HealthBeacon PLC shares on June 27 and July 4, 2022, using non-public information about component shortages before a negative trading update.
He admitted both breaches and settled.
Sanctions totaled €87,200 before discount: €21,800 in disgorgement and a €65,400 monetary penalty, three times the loss avoided.
A 30 percent settlement discount reduced only the penalty to €45,780, leaving €67,580 payable.
Disgorgement receives no discount.
The CBI cited deliberate conduct, repeated trading within seven days and the loss avoided.
The enforcement action is concluded.
Broker report triggered investigation
Dalton was Contracts Manager and Head of Ireland from September 2018 until June 24, 2022, and had received MAR training.
After leaving, he called his broker twice to sell shares; the broker submitted a suspicious transaction and order report.
HealthBeacon's unscheduled July 6, 2022, update cut its deployment forecast.
Shares fell from €4.60 at the previous close to an intraday low of €2.50. Investigators found no specific public information about the supply problems before the update.
Neither HealthBeacon nor its other employees or agents were investigated.
Recovery beyond the fine
The CBI used disgorgement for the first time, distinguishing recovery of unjust enrichment from punishment.
It also marked its first insider-dealing sanction against an individual under the 2016 Regulations.
Enforcement Director Karen O'Leary emphasized firms' duty to report all reasonable suspicions promptly.