Former Morrison tax chief faces UK jail for insider dealing

LONDON (Reuters) - The former group treasurer and head of tax at WM Morrison Supermarkets Plc has been sentenced to 12 months in jail for insider trading by an English court. The Financial Conduct Authority (FCA) said on Tuesday that Paul Coyle, pleaded guilty to two counts of using confidential, price-sensitive market information to trade in shares of proposed joint venture partner Ocado, an online retail delivery service, in 2013. "Mr Coyle committed a serious breach of trust by using the confidential price sensitive information he received as part of his role at Morrisons for his own personal gain," said Georgina Philippou, the FCA's director of enforcement and market oversight. (Reporting by Kirstin Ridley, editing by Huw Jones)