Joe works as a backroom manager in the international services of a major UK bank. Whilst he does not directly trade clients’ money, he does maintain good contacts with many of the banks’ clients, external financial *ysts and partners in financial service providers. He uses the knowledge obtained from these contacts to assess the performance of the front room traders, occasionally helping out a trader who is struggling to meet their targets with information that the other traders would not have. Joe’s bonus is based on the traders’ performance, so he indirectly receives financial benefit from the information he passes on. He believes he is just helping out the traders and the bank. What illegal practice is Joe carrying out?
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