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17 Section 118(3) FSMA; Behaviour— Improper Disclosure

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

Financial Services and Markets Act 2000 — Improper disclosure
17.01 This Chapter deals with Improper Disclosure of inside information under s 118(3) FSMA and the available safe harbours with respect to this behaviour. 17.02 Section 118(3) sets out the second type of behaviour: The second is where an insider discloses inside information to another person otherwise than in the proper course of the exercise of his employment, profession or duties. 17.03 The elements of this offence are set out in Figure 5. 17.04 This is the market abuse equivalent of the s 52(2)(b) CJA offence.1 As with that offence, the key question is whether...
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