Insider Dealing: Law and Practice

ISBN : 9780199672950

Sarah Clarke
368 ページ
176 x 248 mm

Insider Dealing: Law and Practice is the first work to offer a detailed treatment of the rapidly developing law and practice relating to the complex area of insider dealing. Since R v McQuoid and Melbourne, and R v Uberoi, there has been a steady increase in the volume and severity of insider dealing prosecutions and civil market abuse proceedings. This text provides a detailed analytical critique of the recent cases and developments, including treatment of the background to this area, all cases, and the first ever sentencing guidelines for insider dealing. Written by a leading practitioner with unparalleled experience in both private practice and at the FSA, it offers a clearly structured, and practical treatment of the area, collecting together all key legislation and materials, and offering an easily accessible road map through the practice and procedure of an insider dealing investigation and prosecution or civil action.


1. Introduction to Insider Dealing
2. Trading on the Financial Markets - Essential Principles for Insider Dealing Cases
3. A History of Insider Dealing Legislation in the UK
4. The European Insider Dealing Directive
5. Part V of the Criminal Justice Act 1993 - The Criminal Offences (s.52 CJA)
6. Inside Information (s.56 CJA)
7. Insiders (s.57 CJA)
8. Securities and Regulated Markets
9. Dealing
10. Territorial Scope (s.62 CJA)
11. Statutory Defences
12. Prosecution of Insider Dealing Offences
13. Penalties and Sentencing
14. Insider Dealing - The Civil Market Abuse Regime
15. The Civil Offences
16. Section 118(2) Behaviour - Insider Dealing
17. Section 118(3) Behaviour - Improper Disclosure
18. Section 118(4) Behaviour - Misuse of Information
19. Market Abuse - Statutory Defence and Power to Impose Penalties
20. Market Abuse Proceedings - Article 6 ECHR and the Burden and Standard of Proof
21. Detection and Referral to Enforcement
22. The Enforcement Investigation
23. Criminal Proceedings
24. Enforcement Proceedings - Market Abuse Proceedings
25. The Future


Sarah Clarke is a barrister at Serjeant's Inn Chambers. She was previously a Technical Specialist and In-House Counsel in the Financial Services Authority's Enforcement Division, where she led teams and advised on investigations, evidence, powers and regulatory law and procedure.