Double criminality not satisfied: alleged insider dealing occurred outside the United States

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🇬🇧 Summary

The United States sought the extradition of a dual British and Lebanese national to face charges arising from an alleged insider-dealing scheme involving confidential information about companies listed on US stock exchanges. The Supreme Court held that, for the purposes of section 137 of the Extradition Act 2003, the location of the conduct must be determined by identifying where the requested person’s relevant physical acts occurred, rather than where their effects were felt. As the substance of the alleged conduct occurred in the United Kingdom and not in the United States, the stricter test applicable to extraterritorial conduct under section 137(4) applied. Equivalent conduct in corresponding circumstances would not fall within the territorial scope of the relevant UK insider-dealing or money-laundering offences; the Court therefore allowed the appeal, discharged the requested person and quashed the extradition order.

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