1. For any relevant person who is involved in activities that may give rise to a conflict of interest, or who has access to inside information within the meaning of Article 7(1) of Regulation (EU) 596/2014/EU of the European Parliament and of the Council on market abuse or to other confidential information relating to an AIF or transactions with or for an AIF, an AIFM shall establish, implement and maintain adequate arrangements aimed at preventing such relevant persons from:

(a) entering into a personal transaction in financial instruments or other assets which fulfils one of the following criteria:

(i) the transaction is subject to Article 8(1) and (4)(a) to (d) of Regulation (EU) 596/2014;

(ii) the transaction involves the misuse or improper disclosure of confidential information;

(iii) the transaction conflicts or is likely to conflict with an obligation of the AIFM under the UK provisions which implemented Directive 2011/61/EU;

(b) advising or inducing, other than in the proper course of his employment or contract for services, any other person to enter into a personal transaction referred to in point (a)(i) and (ii), or that would otherwise constitute a misuse of information relating to pending orders;