What is the legislation that created offences related to insider dealing?

The legislation that created offences related to insider dealing is the Criminal Justice Act 1993. This Act specifically addressed the issue of insider trading by making it a criminal offense to deal in securities based on material, non-public information. It introduced provisions aimed at enhancing market integrity and protecting investors by penalizing individuals and entities that exploit confidential information to gain unfair advantages in trading.

The importance of the Criminal Justice Act 1993 lies in its role in establishing a legal framework for identifying and prosecuting insider dealing, which plays a crucial part in maintaining trust in financial markets. The act further delineates the roles and responsibilities of various stakeholders, including regulatory authorities, in monitoring and enforcing compliance with insider trading laws.

While the Companies Act 2006 and the Financial Services and Markets Act 2000 also contain provisions related to corporate governance and market practices, they do not primarily focus on criminalizing insider dealing in the manner that the Criminal Justice Act 1993 does. The Fraud Act 2006 addresses broader aspects of fraud but does not specifically pertain to insider dealing offenses. This distinction is critical for understanding the legislative landscape surrounding financial misconduct.