According to the Code of Market Conduct, what constitutes market abuse?

Market abuse refers to behavior that undermines the integrity of the financial markets and can occur in various forms, including insider trading and market manipulation. The correct understanding of market abuse focuses on qualifying investments, which are typically specific financial instruments traded on regulated markets.

Choosing behavior specifically related to qualifying investments is crucial because market abuse is concerned with maintaining fairness and transparency in securities markets where these investments are traded. Qualifying investments typically include stocks, bonds, and derivatives, which are subject to specific regulations designed to protect investors and ensure orderly market operations.

The other options, while potentially related to broader market behaviors, do not capture the specific nature of market abuse as defined under relevant financial regulations. General behavior affecting any type of investment may not fall into the criteria for market abuse if it doesn't involve regulated financial instruments. Similarly, activities in informal markets may not be regulated in the same manner as formal markets, and actions by consumers alone do not encompass the broader range of activities involving financial professionals and market participants, which are central to the concept of market abuse.