If you click on a link and make a purchase we may receive a small commission. Read our editorial policy.

Ubisoft executives fined €1.2 million for insider trading

This is fines

Five executives from Ubisoft accused of insider trading have been fined a total of €1.2 million by French regulators, including the CEO of Ubisoft Montreal, Yannis Mallat, whose individual fine is €700,000. The company has said it will appeal the decision and continues to support the executives, saying that the regulator does not understand how its games are made.

This is part of a long-running case dating back to autumn 2013, when a delay to the original Watch Dogs was announced, causing Ubisoft stocks to take a severe tumble. The executives were accused of knowing the game would be delayed and selling stocks in the weeks leading up to the announcement – an action which is against French trading regulations. The Autorités des marchés financiers (AMF) has been pursuing the case and made its final sanctions on Wednesday.

The executives and their accompanying fines are as follows:

Yannis Mallat (CEO Ubisoft Montreal) - €700,000

Christine Burgess-Quemard (Worldwide Studios Executive Director) - €200,000

Francis Baillet (Vice President of Corporate Affairs) - €200,000

Olivier Paris (Vice President of Exec Operations, Ubisoft Montreal) - €100,000

Damien Moret (Ubisoft Club Brand Director) - €15,000

Banque Transatlantique, which facilitated the share transactions, was also fined €60,000 for a “lack of vigilance” and was told it should have considered the sale of the shares as “capable of constituting an insider dealing” once it saw the announcement of a Watch Dogs delay.

Ubisoft acknowledges the AMF’s decision, but continues to assert that the people involved acted in good faith,” a spokesperson for Ubisoft told Kotaku today. “We are convinced that these team members did not intentionally commit any acts contrary to market regulations.”

Regrettably, the AMF’s decision represents a serious misunderstanding of the game development and production process at our company and common to our industry.”

Ubisoft is appealing the sanctions. It's not the company’s only worry in recent days. Vivendi have been slowly buying up their own stock in the company with a view to hostile takeover, recently reaching the point where they own 25% of the company’s shares.

About the Author
Brendan Caldwell avatar

Brendan Caldwell


Brendan likes all types of games. To him there is wisdom in Crusader Kings 2, valour in Dark Souls, and tragicomedy in Nidhogg.

Black Friday Sale: save 25% off a yearly membership!

You want more great writing from the RPS team, and we want to make that happen. Your support helps keep RPS silly and strange, and the most unique place to read and discover exciting new PC games since 1873.

See more information
Rock Paper Shotgun logo

We've been talking, and we think that you should wear clothes

Total coincidence, but we sell some clothes

Buy RPS stuff here
Rock Paper Shotgun Merch