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 Conditions in FSMA s118(2) Whether applicant an insider within s118B(e) Yes Whether information not generally available Yes Whether information of a precise nature within meaning of s118C(2) Yes Whether information likely to have a significant effect on price within meaning of s118C(6) Yes Defence under s123(2)(a) of belief on reasonable grounds that not market abuse Defence not made out Penalty to be imposed Whether applicant fit and proper No Prohibition.

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Published 1 December 2016