As well as highlighting the importance of compliance with MAR, this fine reminds PDMRs of market participants of the ability and inclination of the FCA to punish PDMRs who fail to comply with the requirements of Article 19 of MAR. MAR is an essential element of ensuring transparency in the market and is a key safeguard against abuses by those who hold inside information on issuers.

The FCA have commented that the position of trust held by PDMRs is damaged when protective measures are not adhered to. The instant dismissal of Mr Sebők also stresses the significance of understanding and complying with the terms of public company employment contracts and Share Dealing Codes.

The FCA has not censured or criticised Wizz Air.