The Financial Conduct Authority has charged former London solicitor Richard Bloomfield with five counts of insider dealing linked to the acquisition of maternity fashion retailer Seraphine Group PLC.
The regulator alleges that Bloomfield, 38, obtained confidential information while working on the proposed takeover of Seraphine and used that information to trade in the company’s shares on five occasions between March 2022 and January 2023.
Bloomfield appeared before Westminster Magistrates’ Court, where he gave no indication of plea. The matter has been referred to Southwark Crown Court, with his next court appearance scheduled for 5 August. He has been released on unconditional bail.
The FCA said its investigation is focused solely on Bloomfield and does not extend to either Seraphine or the law firm involved in the transaction, identified as US firm Goodwin.
Goodwin acted for private equity group Mayfair Equity Partners, which agreed in January 2023 to acquire the remaining 57 per cent stake in Seraphine for £8.7 million. The transaction became unconditional in March that year.
In a statement, Goodwin said there were no allegations of wrongdoing against the firm and that it had cooperated fully with the FCA’s investigation.
Bloomfield qualified as a solicitor in 2012 and has previously worked at Goodwin, Bird & Bird and Herbert Smith Freehills Kramer. According to his LinkedIn profile, he recently took up a role as chief legal officer and general counsel at a legal technology company.
Seraphine, founded in 2002, became known internationally as a maternity clothing brand favoured by Catherine, Princess of Wales.
The company was listed in 2021 at a valuation of around £150 million but was taken private by Mayfair Equity Partners two years later at a significantly reduced valuation. The business subsequently entered administration, with its brand and intellectual property later acquired by retailer Next for £600,000.
