March 2, 2018 / 9:45 PM / 2 years ago

Mexico's Alfa CFO fined for insider trading

MEXICO CITY, March 2 (Reuters) - The chief financial officer of Mexican conglomerate Alfa was fined 195,018 pesos ($10,349) in January for breaking insider trading laws, government data showed. Ramon Alberto Leal Chapa was fined on January 11 for “making trades with privileged information” in 2011, according to publicly available data on the website of Mexican banking and securities regulator CNBV.

The CNBV did not provide details about the sanctioned trades besides listing the date of Dec. 28, 2011 in the limited information on its website.

Alfa investor relations manager Juan Martin declined to comment. Leal Chapa, who joined Alfa in 2009, did not respond to a message sent via Linkedin on Thursday. The CNBV did not respond to a request for comment.

Late last year, Mexico’s securities regulator handed down some of its biggest fines ever for insider trading and stock manipulation. ($1 = 18.8445 Mexican pesos) (Additional reporting by Michael O’Boyle; editing by Diane Craft)

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