chapter  9
OTHER CONSTRAINTS ON INSIDER DEALING
Pages 13

As has been seen earlier,1 the prohibition of insider dealing is continued by the Criminal Justice Act 1993.2 There are however a number of additional factors which may also discourage or even prevent insider dealing. These range from the various equitable and fiduciary duties imposed on company directors, through certain obligations contained in relevant primary legislation,3 to the ‘Model Code’ for transactions in securities by directors which is annexed to the ‘listing’ rules issued by the London Stock Exchange.4 These additional ‘factors’ comprise a considerable amount of technical material and the purpose of this chapter is to provide an outline of the more important of these matters. If any seem relevant to a particular case, reference will need to be made to fuller legal treatments and also, wherever possible, to up-to-date source materials.