chapter
INFORMATION MADE PUBLIC
Pages 7

Whether or not information has been made public will be a matter of fact. The importance of such a fact was well put as follows: ‘If someone possesses inside information and intends to make it public, but deals in the meantime, that is insider dealing. If that person is in receipt of inside information and makes it public so that it is in the public domain when he deals, that is not insider dealing. It is a question of whether the dealing falls on one side or the other of information having been made public ...’107 The point at which information becomes public is crucial because that determines, in the context of insider dealing law, whether the action taken before or after is legal or illegal.108