UK FSA fines Genel Enerji execs £1.16 million for market abuse

Three executives at Turkish oil company Genel Enerji have been fined a combined £1.16 million for market manipulation. The UK Financial Services Authority (FSA) says the senior managers used insider information to deal in the shares of UK-listed Heritage Oil.
Mehmet Sepil, Genel Enerji’s chief executive officer, was fined £967,005 for market abuse. His chief commercial officer, Murat Ozgul, and Levent Akca, the firm’s exploration manager, were fined £105,240 and £94,062 respectively for tradi