David Massey v Financial Services Authority: [2011] UKUT 49 (TCC)
Upper Tribunal Tax and Chancery decision of Judge Bartlett and Member Palmer and Member Senior on 3 February 2011.
Read the full decision in .
MARKET ABUSE 鈥� Conditions in FSMA s118(2) 鈥揥hether applicant an insider within s118B(e) 鈥� Yes 鈥� Whether information not generally available 鈥� Yes 鈥� Whether information of a precise nature within meaning of s118C(2) 鈥� Yes 鈥� Whether information likely to have a significant effect on price within meaning of s118C(6) 鈥� Yes 鈥� Defence under s123(2)(a) of belief on reasonable grounds that not market abuse 鈥� Defence not made out 鈥� Penalty to be imposed 鈥� Whether applicant fit and proper 鈥� No 鈥� Prohibition.
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Published 1 December 2016