The Phoenix magazine has been fined €5,000 by the Financial Regulator under new market abuse rules.

The regulations require people who write about shares to be clearly identified and to state whether they have an interest in the stock.

The regulator said it had made a settlement agreement with The Phoenix and its publisher 'in relations to breaches which occurred of the disclosure requirements'.

The regulator said: 'The matter has been settled on the basis that the breaches are admitted, a fine of €5,000 has been imposed and new measures are to be introduced by the company to support compliance'.