Jurisdiction(s):
United Kingdom
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Key definition
Insider definition

What does Insider mean? In practice, an insider is a person who possesses inside information about an issuer or its financial instruments, typically triggering insider dealing restrictions, disclosure prohibitions and compliance controls (for example, dealing bans, insider lists and wall‑crossing). Under the uk market abuse regulation (retained Regulation (EU) 596/2014), a person is treated as an insider if they possess inside information obtained by virtue of: - being a member of an issuer’s administrative, management or supervisory bodies; - having a holding in the issuer’s capital; - access through the exercise of employment, a profession or duties; or - involvement in criminal activities. A person who possesses inside...

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Precedent: deal/event-specific insider list template under UK MAR Article 18 and ITS 2016/347, for issuers and persons acting on their behalf

Precedents
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Article 18(1) of the uk market abuse regulation (Assimilated Regulation (EU) 596/2014 (UK Market Abuse Regulation))

Article 18(1) requires that an issuer, or any person operating on the issuer’s behalf or account, prepares a list of every individual who has access to inside information and is working for them under a contract of employment, or is otherwise carrying out tasks that provide such access, eg advisers, accountants or credit rating agencies...

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Web page updated on 22/05/2026

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