Law firm Pinsent Masons has called for greater clarity on the issue of delayed disclosure of insider information following publication of the FCA’s consultation on the matter.
This follows the upper tribunal’s detailed analysis on the definition of inside information in various decisions.
Former FCA employee Michael Ruck, a senior financial services enforcement lawyer at Pinsent Masons, said: “With the market abuse regulation to be implemented in the UK in July 2016 it is vital that debates around the interpretation of how “precise” information must be in order to amount to inside information, and what equates to information of a kind which is likely to have a significant effect on price be clarified with clear guidance. “
