Explain any criminal offences Sid may have committed
【参考答案及解析】
Under the Criminal Justice Act 1993, Sid is an insider by virtue of his position as director in Trend plc and Umber plc. The information he holds is price-sensitive as it concerns large profits and large losses. Therefore, it would appear that he is liable under for dealing in price-affected securities. None of the defences would apply to him as he clearly expected to make a profit in one transaction and to avoid a loss in the other.
Under the Criminal Justice Act 1993, Sid is an insider by virtue of his position as director in Trend plc and Umber plc. The information he holds is price-sensitive as it concerns large profits and large losses. Therefore, it would appear that he is liable under for dealing in price-affected securities. None of the defences would apply to him as he clearly expected to make a profit in one transaction and to avoid a loss in the other.