Paul "the plumber" Davidson

Paul "The Plumber" Davidson (born 21 June 1955) is a British businessman and entrepreneur. He became widely known in the UK business press following proceedings brought by the Financial Services Authority (FSA) concerning a spread bet related to the 2002 flotation of biotechnology company Cyprotex. In 2006, the Financial Services and Markets Tribunal determined the references in favour of Davidson and trader Ashley Tatham.

A former pipe-fitter, from which his nickname derives, Davidson was fined £750,000 by the Financial Services Authority for market abuse in 2004, a fine which was subsequently overturned.

Early life Davidson was born in Edgware in north London and later moved to Cheshire as a teenager, leaving school at 15 and taking an apprenticeship with Shell as a pipe-fitting apprentice.

Cyprotex spread bet and market abuse proceedings

In October 2003, the FSA issued a decision notice stating that it had decided to impose a financial penalty of £750,000 on Davidson in connection with an alleged scheme or arrangement to facilitate the flotation of Cyprotex, involving a spread bet placed with City Index and associated hedging transactions.