Insider dealing—the criminal offence


Produced in partnership with Caroline Timoney of Paul Hastings LLP
Practice notes

Insider dealing—the criminal offence


Produced in partnership with Caroline Timoney of Paul Hastings LLP

Practice notes
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The criminal law relating to Insider dealing is contained in Part V of the Criminal Justice Act 1993 (CJA 1993). The offences contained in CJA 1993 exist alongside the civil/regulatory regime governing market abuse as well as other criminal offences including those provided for under the Financial Services Act 2012 (FSA 2012) in relation to the making of misleading statements, misleading impressions and misleading statements etc in relation to benchmarks. Further information on these is available elsewhere in this subtopic.

For information on the civil/regulatory insider dealing regime, see Practice Note: UK Market Abuse Regulation—insider dealing.

Insider dealing offences

Insider dealing is the use of sensitive or privileged information that has not yet been released to the public in order to take advantage of the market. An offence is committed where someone in possession of Inside information uses that information to deal in price-affected Securities or to encourage another person to deal in price-affected securities, or where someone discloses the inside information to another otherwise than in the proper performance of their employment, office

Caroline Timoney
Caroline Timoney

Legal Research Analyst, Paul Hastings LLP

Caroline Timoney is a Legal Research Analyst in Paul Hastings’ London office. She was previously the Commercial Litigation & Civil Fraud Legal Researcher at Peters & Peters Solicitors LLP. Caroline studied Law at the University of Cape Town and completed a Master’s degree in International Law in 2015. Caroline worked for the political think tank Afro-Middle East Centre in Johannesburg before moving to London to work as a researcher in legal publishing. She has presented research at the International Network of Genocide Scholars’ Conference and published articles on Middle Eastern politics, fraud, and international law.

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Insider dealing definition
What does Insider dealing mean?

The Criminal Justice Act 1993, s 52, defines the offence of insider dealing.

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