Insider dealing—sentence tracker

The following Corporate Crime practice note provides comprehensive and up to date legal information covering:

  • Insider dealing—sentence tracker
  • Sentencing for insider dealing
  • Sentencing guidelines

Insider dealing—sentence tracker

FORTHCOMING CHANGE: Section 31(1) of the Financial Services Act 2021 (FSA 2021) increases the maximum sentence for insider dealing under section 61(1)(b) of the Criminal Justice Act 1993 from seven to ten years imprisonment. This section comes into force on a date to be appointed in accordance with regulations to be made under FSA 2021, s 49(5).

Insider dealing is the use of sensitive or privileged information that has not yet been released to the public to take advantage of the market. When someone in possession of inside information uses that information to deal in securities that are price-affected securities this constitutes the offence.

For detailed information about the offence of insider dealing, see Practice Notes: Insider dealing and Insider dealing—a quick guide.

Sentencing for insider dealing

An individual guilty of insider dealing shall be liable:

  1. on summary conviction, to a fine or imprisonment for a term not exceeding six months, or to both. Note that for offences committed in England and Wales before 12 March 2015, the upper limit to the fine which the magistrates can impose on summary conviction is £5,000, or

  2. on conviction on indictment, to a fine or imprisonment for a term not exceeding seven years or to both

For information about the recovery of assets obtained by the proceeds of crime, see Practice Note: Confiscation under the Proceeds of Crime Act 2002.

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