MAM-1.3.1
For the purposes of this Module, market abuse is behaviour or conduct (whether by one person alone or by two or more persons jointly or in concert):
(a) Which occurs in relation to securities traded on a market to which this Module applies;
(b) Which satisfies any one or more of the conditions set out in paragraph MAM-1.3.2; and
(c) Which is likely to be regarded by a regular user of that market who is aware of the behaviour or conduct as a failure on the part of the person or persons concerned to observe the standard of behaviour or conduct reasonably expected of a person in his or their position in relation to the market.
November 2010