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16 Section 118(2) FSMA; Behaviour—Insider Dealing

From: Insider Dealing: Law and Practice

Sarah Clarke

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2023. All Rights Reserved.date: 19 April 2024

Subject(s):
Insider dealing — Financial Services and Markets Act 2000 — Market Abuse Directive (MAD) — UK Financial Services Authority (FSA) — UK Financial Conduct Authority (FCA)
16.01 This Chapter deals with the required elements of s 118(2) behaviour including what ‘Insider’ and ‘Inside Information’ mean in this context. It also deals with the circumstances in which dealing can be said to have occurred ‘on the basis of’ inside information. Lastly, it describes the safe harbours that are available in respect of this offence. The statutory defences available under FSMA are dealt with separately in Chapter 19. 16.02 Section 118(2) FSMA provides: The first type of behaviour is where an insider deals, or attempts to deal, in a qualifying...
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