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18 Section 118(4) FSMA; Behaviour—Misuse of Information

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: 13 April 2024

Market Abuse Directive (MAD) — Financial Services and Markets Act 2000 — Misuse of information — UK Financial Services Authority (FSA)
18.01 This Chapter deals with the elements that constitute s 118(4) behaviour. It focuses on how to approach this ‘legacy’ offence and when information might be ‘RINGA’ (relevant information, not generally available). It also deals with standards of behaviour and the safe harbours that are available in respect of this offence. This Chapter refers to a number of the cases under the pre-MAD market abuse regime to demonstrate the various elements of the offence and to show that in each case, the behaviour in question would be dealt with in the post-MAD1 regime by the...
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