Insider definition
What does Insider mean?
In the context of the uk market abuse regulation (Retained Regulation (EU) No 596/2014), a person who possess inside information as a result of:
(a) being a member of the administrative, management or supervisory bodies of the issuer;
(b) having a holding in the capital of the issuer;
(c) having access to the information through the exercise of an employment, profession or duties; or
(d) being involved in criminal activities.
A person is also an insider if the person possesses inside information under circumstances other than those referred to above, where that person knows or ought to know that it is inside information. See Article 8(4) of the UK Market Abuse Regulation.
In the context of the criminal insider dealing regime under the Criminal Justice Act 1993, a person who has inside information which they know is inside information knowingly from an inside source. See section 57 of the Criminal Justice Act 1993.