Insights & Publications
Diversity, Equity & Inclusion
© 2023 Debevoise & Plimpton LLP
Back to Top
Recent FCA and English High Court Decisions Provide Guidance on Unlawful Disclosure of “inside information” and the Definition of PDMRs under UK MAR
12 September 2022
View Debevoise In Depth
The FCA stated that insiders are responsible for assessing whether information is inside information even if the issuer has not yet made such a determination.
The final notice also suggests that issuers should not disclose inside information to key shareholders several days before market cleansing, even if they are subject to a relationship agreement or non-disclosure agreement.
The High Court also recently provided guidance on the scope of the UK’s persons discharging managerial responsibilities (“PDMRs”) regime, ruling that
directors and potentially even shadow directors of a company are within the scope of the definition of a PDMR.
Regional & Other Practices
Capital Markets in Europe
James C. Scoville
Professional Support Lawyer
View More Authors
UK Modern Slavery Act Transparency Statement
Debevoise Login (2)
Debevoise Women's Review