JP Morgan broke Irish Takeover Panel rules when it failed to disclose dealings in securities of Dragon Oil when the oil producer went into an offer period during 2009, the Irish Takeover Panel said yesterday.

During the period from June 5th to December 4th, JP Morgan dealt in securities of Dragon 113 times, without making the disclosures required, the panel said.

The company said that they had failed to notice the amendment to the panel disclosure table on June 5th, requiring disclosure of dealings from that date.