United Kingdom Upper Tribunal (Tax and Chancery Chamber)
You are here: BAILII >> Databases >> United Kingdom Upper Tribunal (Tax and Chancery Chamber) >> Massey V The Financial Services Authority [2011] UKUT B4 (FS) (03 February 2011)
URL: http://www.bailii.org/uk/cases/UKUT/TCC/2011/B4.html
Cite as: [2011] Lloyd's Rep FC 459, [2011] UKUT 49 (TCC), [2011] UKUT B4 (FS)
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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.