Massey v The Financial Services Authority: UTTC 3 Feb 2011

UTTC 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.

[2011] UKUT B4 (FS)
Bailii
England and Wales

Financial Services

Updated: 28 December 2021; Ref: scu.440803