Spain Fines Gerard Piqué €200,000 for Insider Trading Linked to Aspy Bid

Overview

• Spain’s market watchdog CNMV fined Gerard Piqué €200,000 and businessman Francisco José Elías €100,000 for insider trading tied to Atrys Health’s planned purchase of Aspy Global Services.
• The CNMV says Elías shared non-public information about the pending offer and Piqué bought 104,166 Aspy shares in January 2021, then sold the stake about a week later after the talks became public.
• Using LSEG closing prices reported in coverage, the buy-and-sell window points to an estimated profit of about €45,800 from Piqué’s trades.
• The regulator’s resolution is final within the administrative process and can be challenged before Spain’s National Court.
• The case features a prominent sports figure — Piqué owns FC Andorra and founded the Kings League — which heightens public scrutiny and could discourage similar conduct.