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Dubai Financial Services Authority (DFSA): Contents

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(2 versions)
 
Jul 5 2012 - Jul 13 2013Jul 14 2013 onwards

MKT 4.2.9 Guidance



Whole Section PDF

The definitive version of DFSA handbook text is the PDF version as that is the text of the instrument as made and published by the DFSA.

To view past versions of this module in PDF format, please visit the Archive.

Framework for handling Inside InformationG

1. The responsibility for ensuring that a Reporting EntityG has an adequate overall policy on the handling of Inside InformationG lies with the BoardG of the Reporting EntityG . Whilst responsibility for compliance with the continuing obligations set out in the RulesG lies with the Reporting EntityG , DirectorsG should be aware that they may be held PersonG ally liable for breaching these RulesG .
2. Reporting EntitiesG should have a consistent procedure for assessing whether information is Inside InformationG and should clearly identify those within the Reporting EntityG who are responsible for the communication of this information to the market.
3. Reporting EntitiesG should put in place arrangements for maintaining the confidentiality of Inside InformationG before announcement. These should include adequate training for EmployeesG in the handling, distribution and announcement of Inside InformationG as appropriate. Reporting EntitiesG should, for example, guard against the risk of Inside InformationG being leaked to the market through selective disclosure of internal briefings or via trade journals. Where the Reporting EntityG considers that this may have occurred, an announcement should be made immediately.

Inadvertent disclosure

4. In situations where the Reporting EntityG will be open to questioning that may be designed to elicit or may have the effect of eliciting Inside InformationG (such as during shareholders' meetings or dealing with analysts or journalists), the Reporting EntityG should plan in advance how it will respond to such questions. If the Reporting EntityG intends to disclose Inside InformationG at such a meeting, an announcement must be made before or at the same time as the meeting.
Derived from RM81/2011 (Made 30th November 2011). [VER1/11-11]
[Amended] DFSA RM120/2013 (Made 14th July 2013). [VER4/07-13]