Ex-City lawyer pleads not guilty to insider dealing charges

Former City M&A lawyer Richard Bloomfield pleaded not guilty to five counts of insider dealing at Southwark Crown Court on Friday.

The Financial Conduct Authority alleges Bloomfield used confidential information obtained through his work as a solicitor on the acquisition of maternity fashion retailer Seraphine Group to trade in the company's shares.

According to the regulator, the alleged dealing took place on five occasions between March 2022 and January 2023.

Bloomfield qualified as an M&A lawyer at Herbert Smith Freehills in 2012 before joining Bird & Bird in 2016. He later moved to Goodwin and subsequently joined a legal support startup as chief legal officer and general counsel.

Seraphine listed on the London Stock Exchange in 2021 before being taken private by Mayfair Equity Partners in a £15 million deal in May 2023. Goodwin's London office advised the private equity firm on the transaction.

The retailer subsequently entered administration in 2025 before being acquired by Next.

Bloomfield was charged in July. He initially appeared at Westminster Magistrates' Court, where he gave no indication of plea, before the case was sent to Southwark Crown Court.

The trial is expected to begin in September 2028.