ExpertHard2 marksMultiple Choice
ACCA · Question 24 · Syllabus H: Corporate fraudulent and criminal behaviour
Under the Criminal Justice Act 1993, which of the following is a valid defence to a charge of insider dealing?
Under the Criminal Justice Act 1993, which of the following is a valid defence to a charge of insider dealing?
Answer options:
A.
The individual did not expect the dealing to result in a profit.
B.
The individual was acting on the instructions of their employer.
C.
The individual believed on reasonable grounds that the information had been disclosed widely enough.
D.
Both A and C are valid defences.
How to approach this question
Identify the specific statutory defences available under the insider dealing legislation.
Full Answer
D.Both A and C are valid defences.✓ Correct
The Criminal Justice Act 1993 provides specific defences to insider dealing. These include: not expecting a profit/avoidance of loss, believing the information was already public, or proving they would have dealt anyway even without the information.
Common mistakes
Believing that acting on behalf of a company or employer shields an individual from criminal liability.
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