[F15.[F2(1)]An individual is not guilty of insider dealing by virtue of dealing in securities or encouraging another person to deal if he shows that he acted in conformity with—U.K.
(a)Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation)[F3, as that Article has effect at the time mentioned in sub-paragraph (2),] [F4and—
(i)each EU regulation, originally made under that Article before that time, which is [F5assimilated direct] legislation; and
(ii)all subordinate legislation (within the meaning of the Interpretation Act 1978) made under that Article on or after IP completion day;]
(b)rules made under section 137Q(1) of the Financial Services and Markets Act 2000.]
[F6(2)The time is the beginning of the day on which the Market Abuse (Amendment) (EU Exit) Regulations 2018 are made.]
Textual Amendments
F1Sch. 1 para. 5 and cross-heading substituted (3.7.2016) by The Financial Services and Markets Act 2000 (Market Abuse) Regulations 2016 (S.I. 2016/680), regs. 1, 11
F2Sch. 1 para. 5 renumbered as Sch. 1 para. 5(1) (19.2.2019) by The Market Abuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/310), regs. 1(2), 2(a)
F3Words in Sch. 1 para. 5(1)(a) inserted (19.2.2019) by The Market Abuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/310), regs. 1(2), 2(b)(i)
F4Words in Sch. 1 para. 5(1)(a) substituted (31.12.2020) by The Market Abuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/310), regs. 1(3), 4 (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 17(a)); 2020 c. 1, Sch. 5 para. 1(1)
F5Words in Sch. 1 para. 5(1)(a)(i) substituted (1.1.2024) by The Retained EU Law (Revocation and Reform) Act 2023 (Consequential Amendment) Regulations 2023 (S.I. 2023/1424), reg. 1(2), Sch. para. 33
F6Sch. 1 para. 5(2) inserted (19.2.2019) by The Market Abuse (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/310), regs. 1(2), 2(c)