Disclosing inside information: Can investors still be brought ‘over the wall’?

A string of recent, high-profile enforcement actions by the FSA has highlighted the risk for companies and financial advisers of improperly disclosing inside information. It also serves as a reminder of the need for robust procedures to ensure that inside information is only communicated to third parties in those limited circumstances where disclosure is permitted.

The practice of “wall-crossing” investors has also been brought under scrutiny. This is where a number of investors are briefed about a major, forthcoming transaction by a publicly traded company ahead of any announcement to the market. The usual purpose of making such a disclosure is to elicit support from shareholders for the transaction in question or to ascertain the investor’s appetite for participating in a fund raising. It also allows the company a degree of comfort that the transaction will be well-received when launched…

If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.

Click on the link above to download briefing.

Briefings from Taylor Wessing

View more briefings from Taylor Wessing

Analysis from The Lawyer

  • singapore orchid

    Singapore: Cash course

    The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world

  • Money 317

    Crunch boom

    Financial disputes are starting to dominate the English courts as the long-awaited fallout from the downturn finally comes to town

View more analysis from The Lawyer


5 New Street Square

Turnover (£m): 228.00
No. of Lawyers: 860
No. of Lawyers (Asia Pacific): 79
Offices (Asia Pacific): 3