Insider Dealing & Market Abuse Investigations

Insider dealing and market abuse are serious allegations investigated by the Financial Conduct Authority (FCA). We provide clear, practical guidance from day one to help you understand the process, protect your position and respond effectively.

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Expert legal support for FCA and market abuse investigations

What is insider dealing?

Insider dealing is a criminal offence under Part V of the Criminal Justice Act 1993. It involves trading in price‑affected securities while in possession of inside information, encouraging others to trade, or disclosing inside information improperly.

Inside information refers to information that is specific, non‑public, and likely to significantly affect the price of securities.

What is market abuse?

Market abuse covers a wider range of behaviours under the UK Market Abuse Regulation (UK MAR), including:

Insider dealing (civil offence).
Unlawful disclosure of inside information.
Market manipulation or attempted manipulation.

The FCA treats preventing, detecting and punishing market abuse as a regulatory priority.

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Speak to a member of our team

Our team support you to navigate complexity, seize opportunity and move forward with legal clarity.

Jason Newall

Partner

Find out more

Meet our experts

Jason Newall

Partner

Find out more

Contact our Specialists

Get strategic advice from a team that knows how to protect and grow your business. Please complete our enquiry form and one of our experts will contact you by the next working day.

Alternatively, you can call us now.

Our opening hours are Monday to Friday 8am to 6pm (Excluding Public Holidays).

0370 1500 100

Making an enquiry

We have several ways you can contact us, either by completing our online contact form, by phone, or using our live chat. If you start your journey online, here are the first steps to working together.

Complete our online form
We need a few details to understand your situation and the kind of support you need.
We’ll contact you by phone
On the call our experts will ask you a few more questions to make sure we connect you with the right legal advice from our team.
We arrange a full appointment
If we're able to support you further, the next step is an appointment with one of our specialists so we can discuss everything in more detail.

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Frequently Asked Questions

Here are some of the questions we are frequently asked about insider trading and market abuse.

What documents and notices might I receive?

FCA Investigation Letter – Notification that you or your business is under investigation.
Section 165 or 171 Notice – Compulsory request for information or documents.
STOR‑Related Enquiries – Follow‑up questions where a Suspicious Transaction and Order Report has been filed.
Interview Requests – Either voluntary or compelled under FCA powers.
Warning Notice – Setting out proposed enforcement action.
Decision Notice – Confirming FCA findings and proposed sanctions.

What are the possible consequences of insider dealing or market abuse allegations?

Criminal prosecution and imprisonment of up to 10 years for insider dealing.
Unlimited fines (criminal or civil)
Confiscation of assets or proceeds
FCA prohibitions or industry bans
Reputational damage impacting employment and business relationships
Placement on internal or external financial crime databases
Difficulty maintaining or opening trading or investment accounts.

What services does Irwin Mitchell offer?

Defence in FCA criminal and civil investigations
Responding to FCA notices and interview preparation
Strategy advice throughout the investigation
Representation in negotiations, settlements and court proceedings
Compliance advice to prevent recurrence.

If you are facing an insider dealing or market abuse investigation, contact our team of experts for confidential advice.

Make an enquiry

Our commitment to you

Our experts always start by listening, so we understand what matters most from day one.

01
Clear legal guidance
You will always get straightforward, honest advice, with regular updates to keep you clear on the way forward.
02
Specialist knowledge
A wide-ranging team of trusted specialists who understand what it takes to protect your future, your family or your business.
03
Your needs first
Whether you’re navigating complex personal situations or business decisions, we take the time to understand your world and what’s at stake.

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