CmaBylaw
Executive Bylaws
2-1 The Crime of Trading while Possessing or Exploiting Inside Information(Insider Trading) Of Module Fourteen: Market Conduct
Section: Chapter Two: Trading while Possessing or Exploiting Inside Information(Insider Trading)
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Wednesday, 15 February 2017
A punishment by imprisonment for a term not exceeding five years and a fine of not less than the amount of the benefit achieved or losses avoided or an amount of ten thousand Dinars – whichever is higher – and not more than three times the benefit achieved or losses avoided or the amount of one hundred thousand Dinars – whichever is the higher – or by either of these two penalties, shall be incurred by any Insider who sold or purchased a Security while in possession of Inside Information regarding the same, or disclosed Inside Information or gave advice based on Inside Information to another Person. The same penalty shall be applied to any Person who purchased or sold a Security based on Inside Information obtained from an Insider, while being aware of the nature of such information, for the purpose of realizing any benefit for himself or for others.
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