Law · Financial Offenses
In financial offense law, if Alan traded securities using non-public price-sensitive information and Chris failed to disclose suspected money laundering activities, which statement correctly identifies their legal liabilities?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both Alan and Chris are only liable for civil penalties.
- 2Alan committed a primary insider dealing offense, while Chris is only liable for tipping off.
- 3Alan is guilty of insider dealing, and Chris is guilty of failure to report under anti-money laundering legislation.✓
- 4Alan committed a civil offense of market abuse, while Chris has no legal liability.
Correct answer
Alan is guilty of insider dealing, and Chris is guilty of failure to report under anti-money laundering legislation.
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