Chartered Accountants

[Scobalob]

Just a thought.

Can a Chartered Accountant give beneficial free advice to his/her family members without it being construed as 'insider dealing' should the family member make a profit from this advice -

Thanks

[buildersmate]

Absolutely not. That's exactly what insider dealing is.

[Ellipsis]

Depends on the advice.

If you mean advice based on knowledge that's in the public domain, then yes the accountant can give that advice (i.e. the same as they could to any other client, but for free).

If you mean advice based on insider knowledge of their clients' dealings, then that would be insider dealing.

[woofgang]

Its not just family. I the CA advises anyone, including another client, to take a course of action based on confidential knowledge, that's insider dealing. If the knowledge is public and its the interpretation of that knowledge that the CA is sharing, that's not insider dealing.

[Scobalob]

Thanks all.
The subject came up over a pint and raised an interesting conversation with, I guess, about 75% of us reaching your conclusions that the CA would be in wrong.
....I hasten to add that I didn't see any shameful faces.

Thanks again.