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  4. Point in time
    2016-12-31

MAR 1.8 Dissemination3

MAR 1.8.1UK

[deleted]3

MAR 1.8.1AEU

3[article 12(1)(c) of the Market Abuse Regulation]

MAR 1.8.2UK

[deleted] 3

3Descriptions of behaviour that amount to dissemination

MAR 1.8.3E

[deleted] 3

3[Note: article 12(1)(c) of the Market Abuse Regulation]

3Factors to be taken into account in determining whether or not behaviour amounts to dissemination

MAR 1.8.4GRP

If3a normal and reasonable person would know or ought to3have known in all the circumstances that the information was false or misleading, that indicates that the person disseminating the information knew or ought 3to have known that it was false or misleading.

MAR 1.8.5GRP

If 3the individuals responsible for dissemination of information within an organisation could only know that the information was false or misleading if they had access to other information that was being held behind a Chinese wall or similarly effective arrangements, that indicates that the person disseminating did not know and could not reasonably be expected to have known that the information was false or misleading.

3Example of dissemination

MAR 1.8.6GRP

The following is an example of behaviour3which may amount to a contravention of article 12(1)(c) of the Market Abuse Regulation3:

  1. (1)

    a person posts information on an Internet bulletin board or chat room which contains false or misleading statements about the takeover of a company whose shares are financial instruments 3 and the person knows that the information is false or misleading.3

3[Note: article 12(1)(c) of the Market Abuse Regulation.]