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Article (104) Claiming that Inside Information is Market Information

An individual is not guilty of inside dealing by virtue of dealing in securities or encouraging another person to deal if he proves that:

1. the information, which he had as an Insider, was market information.
2. it was reasonable that any person in their position would have acted similarly despite having such information as an Insider at the time. In determining the appropriateness of such action, a special consideration shall be given to the content of the information, the circumstances in which it was first acquired and in what capacity did he act at the time of dealing.