The Financial Conduct Authority (FCA) has initiated criminal proceedings against Bobosher Sharipov and Bekzod Avazov after uncovering an alleged insider dealing scheme linked to the planned takeover of GCP Student Living Plc (GCP).

This case is a powerful reminder of why robust controls, ethical culture, and strong market oversight are essential in today’s financial environment.

Misuse of Confidential Information
According to the FCA, Mr Sharipov, who worked at Jefferies International Limited, had access to highly sensitive information regarding a potential GCP acquisition.
He is accused of leaking that inside information to his friend and business associate, Mr Avazov.

Profiting from Insider Knowledge
The FCA alleges that Mr Avazov used the leaked information to place trades and spread bets on GCP shares, resulting in almost £70,000 in profit.
These trades were executed in 2021, and their timing and profitability quickly raised red flags.

How the FCA Caught It
The suspicious activity was identified through the FCA’s specialist market surveillance systems, designed to detect unusual trading patterns across UK markets.
Additional checks revealed a personal connection between the two men: they had previously worked together and even shared accommodation — deepening concerns around coordinated activity.

A Serious Breach of Market Trust
Steve Smart, Executive Director of Enforcement and Market Oversight at the FCA, stated:

“We believe Mr Sharipov exploited his trusted position so he and Mr Avazov could benefit illegally. Market integrity relies on trust, and it is right that this case is brought before the courts.”

Trust, transparency, and ethical behaviour are not optional — they are the foundation of fair and functioning markets.

Case Moves to Crown Court
The case has now been sent to Southwark Crown Court.
Both individuals have not yet entered a plea.

Strong Cooperation from Jefferies
Jefferies International Limited has fully cooperated with the FCA during the investigation, demonstrating the value of swift, responsible action when potential misconduct arises.