以下是高顿网校为大家整理的：F4公司法与商法第十九章，希望对考生们有所帮助。
 
　　3 The offence
　　3.1 The Defendant was an Insider
　　An insider is defined as:
　　(a) a director, employee or shareholder of the issuer of the securities
　　(b) anyone else who has access to the information through his employment, office or profession
　　(c) anyone who obtains information (directly or indirectly) from either of the above.
　　The ‘insider’ must be aware that the information comes from an inside source and that it is inside information.
 
　　3.2 The Defendant had Inside Information
　　Inside information is information which is ‘price sensitive’, that is which:
　　(a) has not yet been made public
　　(b) if it was made public would be likely to have a significant effect on the price of any securities
　　(c) is specific or precise (e.g. ‘ … a take-over bid is about to be announced for X plc …’ is specific, whereas a mere tip ‘buy X plc’ would not be)
　　(d) relates to particular securities or a particular issuer rather than to securities or issues generally. (In other words, information which suggests it is a good idea to sell X plc securities can be inside information but not information which would persuade the market to move out of equities generally and into gilts).
 
　　3.3 The Defendant either:
　　(a) deals (buys or sells relevant securities) or
　　(b) encourages another person to deal, or
　　(c) discloses the information (except in the proper performance of the functions of his employment, office or profession).
 
　　3.4 The Securities involved are:
　　Shares, debt securities, warrants, options, futures, depository receipts and contracts for differences dealt either on-exchange or off-exchange through a professional intermediary.
 
　　高顿网校小编寄语：挫折会来，也会过去，热泪会流下，也会收起，没有什么可以让你气馁的。

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