Insider Dealing: The Substantive Law and Its Application

When will a piece of information become “inside information”? Is “inside information” necessarily “price sensitive” information? What are the legal implications for those who are in possession of such information? What should they do and what should they not do? What are the pitfalls? Would it make any difference if the person in possession of the inside information is or is not connected to the corporation? When will a dealing amount to “insider dealing”? What are the possible defences for insider dealing? This course will address these questions as well as the implications of some recent cases in which the defendants’ defence to a charge of insider dealing was accepted by the Market Misconduct Tribunal.

Detailed Information

Highlights of the course include:

  • Legislative overview
  • Insider Dealing Tribunal / Market Misconduct Tribunal / criminal courts
  • What is insider dealing?
    • When is a person “connected” to a corporation?
    • When is information “specific” and “price sensitive”?
    • What amounts to insider dealing?
    • Analysis of the various modes of insider dealing
  • Investigation & how to deal with it
  • Analysis of cases: defending an allegation of insider dealing The use of experts
  • Investigation & how to deal with it
  • Civil sanction or criminal prosecution?
    • Who institutes?
    • Consequences?
  • Case law updates

Registration Conditions

To view our registration conditions click HERE.