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Richard Bloomfield is in serious trouble. The Financial Conduct Authority has hit the solicitor with five criminal counts of insider dealing tied to securities transactions involving Seraphine Group PLC — a maternity and nursing wear brand that was publicly listed on the London Stock Exchange.
The FCA says Bloomfield, who was working at a law firm at the time, got his hands on confidential information about an acquisition involving Seraphine Group and then used it. Between March 28, 2022, and January 10, 2023, he allegedly traded on that inside knowledge five separate times. That’s not a one-off slip. That’s a pattern spanning roughly nine months, and the FCA clearly wants a court to see it that way too. Bloomfield was born on May 23, 1988, and he’s now facing one of the more damaging professional situations a solicitor can find himself in — criminal charges brought by the UK’s top financial watchdog.
He showed up at Westminster Magistrates’ Court but didn’t enter a plea. Pretty standard procedure at that stage. The case has since been kicked up to Southwark Crown Court, where the next hearing is set for August 5, 2026. He’s currently out on unconditional bail, which means the court isn’t treating him as a flight risk right now. But that doesn’t make the charges any less serious.
What the FCA Is Actually Alleging
Insider dealing is a criminal offense under section 52 of the Criminal Justice Act 1993. The law is blunt: you can’t use information that isn’t publicly available to trade securities and profit — or help others profit — at the expense of everyone else in the market who doesn’t have that information. It’s basically cheating, and UK courts treat it that way.
The FCA’s case against Bloomfield centers on his professional role. As a solicitor, he would have had access to sensitive deal information — the kind of material that moves stock prices when it eventually goes public. The allegation is that he didn’t keep that information where it belonged. Instead, he allegedly turned it into a trading advantage, five times over.
What’s notable here: the FCA is not going after the law firm where Bloomfield worked. No investigation into the firm has been opened. Seraphine Group PLC itself isn’t under any probe either. The FCA is focused entirely on Bloomfield’s individual conduct. That’s a deliberate choice, and it probably means the regulator sees this as a solo operation rather than something systemic — at least for now.
Why This Case Matters Beyond Bloomfield
Solicitors sit at the center of major corporate transactions. Mergers, acquisitions, restructurings — law firms handle the paperwork, the negotiations, the due diligence. That means lawyers often know things before the rest of the market does. Weeks before. Sometimes months. The FCA has long kept an eye on that access point, and cases like this one are basically the regulator sending a message to the whole profession.
It’s not just traders on dealing floors who get caught. Professionals in law, accounting, consulting — anyone who touches a deal and gets tempted to act on what they know — can end up exactly where Bloomfield is now. Facing a Crown Court jury and a potential custodial sentence.
Insider dealing convictions in the UK can carry prison terms of up to seven years. That’s the ceiling under the Criminal Justice Act 1993. Whether Bloomfield ends up anywhere near that depends entirely on how the case unfolds at Southwark Crown Court, and whether a jury ultimately finds the FCA’s evidence convincing.
He hasn’t entered a plea yet. So there’s still a lot that’s unclear about how his defense will approach this. Maybe he contests the FCA’s version of events entirely. Maybe there’s a different explanation for the trades. No details on that yet.
What Happens Next
The August 5 hearing at Southwark Crown Court is the next real checkpoint. That’s where the case starts to take shape in a more serious legal setting. Magistrates’ courts handle early procedural steps; Crown Courts handle the actual trials for serious criminal offenses. Insider dealing sits firmly in that category.
The FCA has been ramping up its market abuse enforcement over recent years, and criminal prosecutions — rather than just civil fines — are increasingly part of that push. Bloomfield’s case fits that pattern. Five counts, a nine-month window of alleged activity, and a clear professional breach of duty.
The August 5 hearing will be the next concrete development.
Frequently Asked Questions
What charges does Richard Bloomfield face from the FCA?
Richard Bloomfield faces five counts of insider dealing related to securities transactions involving Seraphine Group PLC, allegedly carried out between March 28, 2022, and January 10, 2023.
Is Seraphine Group PLC or Bloomfield’s law firm under investigation?
No. The FCA has made clear it is not investigating either the law firm where Bloomfield worked or Seraphine Group PLC — the charges are directed solely at Bloomfield as an individual.
