Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Connected persons definition

What does Connected persons mean? Connected persons describes those whose relationship with a company director means the director could influence or benefit from a transaction, so dealings with them are treated as dealings with the director. In the UK, the term is defined in the Companies Act 2006, sections 252–255 (applying across England & Wales, Scotland and Northern Ireland). It includes members of the director’s family, a body corporate with which the director is connected (for example through control), a person acting as trustee of a trust whose beneficiaries include the director or persons connected with the director, and a person acting as...

UK DTR 3: PDMR and connected persons’ dealings—notifications, thresholds, timing and post-Brexit changes under UK MAR, with FCA guidance and practitioner Q&A

Published by a LexisNexis Corporate expert

Practice notes

This Resource Note signposts pertinent commentary, analysis and materials to help with interpreting, and to give practical direction on applying, Chapter 3 of the disclosure guidance and transparency rules (DTR 3). Where appropriate, it draws on:

the Financial Conduct Authority (FCA) Handbook
FCA Knowledge Base guidance—Procedural and Technical Notes (which are formal guidance and bind the FCA)
FCA consultation papers, discussion papers, policy statements, feedback statements and warnings
Primary Market Bulletins and other FCA publications
former UKLA technical and procedural notes, and the UKLA newsletter List!, where still relevant to interpreting or applying a provision
assimilated EU legislation
EU Directives and EU Regulations, where relevant to construing a provision
Lexis+® UK analysis and resources

Setting the scene

What it covers: DTR 3 provides guidance on certain notification duties of issuers, persons discharging managerial responsibilities (PDMR) and their connected persons, regarding dealings on their own account in the issuer’s shares or debt instruments (or derivatives or any other financial instrument linked to those shares)
Application: DTR 3

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Web page updated on 22/05/2026

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