Market Abuse and Insider Dealing

Author: Kern Alexander,Lisa Linklater,Stuart Bazley

Publisher: Bloomsbury Professional

ISBN: 9781847661357

Category: Business & Economics

Page: 286

View: 6305

Completely revised and restructured, the second edition of Market Abuse and Insider Trading defines the nature of insider trading in the UK, examining the crimes of market abuse and insider dealing as well as other fraud-related offenses, focusing on the responsibilities of those engaged in compliance, as well as those who fall within the scope of prohibitions. New chapters include the UK's Financial Services Authority investigations, anti-money laundering law and compliance, as well as new material covering disclosure and reporting of transactions and suspicions, and general Islamic finance aspects.

Market Abuse and Insider Dealing

Author: Barry Rider,Kern Alexander,Stuart Bazley,Jeffrey Bryant

Publisher: Bloomsbury Publishing

ISBN: 1780434952

Category: Law

Page: 414

View: 1391

The nature of insider dealing and market abuse -- Insider dealing : the civil law -- The main offences of insider dealing - dealing on the basis of inside information -- The market abuse regime -- FSMA criminalo offences of market manipulation -- Fraud and financial crime -- Anti-money laundering and proceeds of crime -- Conflicts of interest -- Issuer disclosure and liability -- Information gathering -- Investigations -- Enforcement issues -- Compliance procedures and systems -- Personal liability of senior managers and compliance officers -- Control liability -- The impact of other laws : domestic and overseas

Stock Market Efficiency, Insider Dealing and Market Abuse

Author: Paul Barnes

Publisher: CRC Press

ISBN: 1317049934

Category: Law

Page: 224

View: 7521

The recent turbulence in the stock market has brought into question the way, and prices at which, shares are traded, and how the market effectively values companies. It has also raised public concern as to the way by which dealers and investors take advantage of changes in market prices. A number of high profile criminal prosecutions of insider dealing and market abuse and the frequent claims of other instances, combined with the changes in regulations resulting in a more aggressive and proactive stance by the various regulators, have brought the issue under the spotlight. This book discusses what makes stock market efficiency so important for the economy, looks at the theory and issues that underpin market abuse and why an offence often dismissed as a victimless crime is punished so severely. It explores the impact of perception and other factors that distort the market and outlines the extent of abuse. Regulators, lawyers, company officials, investigators, professional advisers and of course investors, both professional and otherwise will find this a helpful guide to the underlying elements of fraud and market manipulation.

Market Abuse and Insider Dealing

Author: Barry Alexander K. Rider,Rider,Kern Alexander,Lisa Linklater

Publisher: Bloomsbury Professional

ISBN: 9781845925369

Category: Law

Page: 259

View: 4045

"Market Abuse and Insider Dealing defines the nature of insider dealing and takes account of the abuse of privileged information, market manipulation and sharp practices."

Insider Dealing and Market Manipulation

Author: Jiri Crha

Publisher: LAP Lambert Academic Publishing

ISBN: 9783843350044


Page: 120

View: 1256

The issue of capital market protection, especially from manipulation with financial instruments' prices and abuse of inside information, forms the content of this essay. After the legal introduction of market manipulation in EU directives and regulations, which gives manipulation relevant context, there follows the analysis of particular forms of manipulation, which can be used to influence prices of investment instruments. Then, analysis of impact of investment recommendation to selected stock prices (i.e. NWR, ERSTE and Telefonica O2), which are traded on Czech stock market RM-System, is performed. Final chapter of the essay handles the analysis of some market manipulation and insider trading cases from the past, together with the discussion of impacts of stricter regulation of financial markets to their efficient functioning."

The Mechanics and Regulation of Market Abuse

A Legal and Economic Analysis

Author: Emilios Avgouleas

Publisher: Oxford University Press on Demand

ISBN: 9780199244522

Category: Business & Economics

Page: 517

View: 8353

Economic theory indicates that financial markets play a prominent role to the efficient allocation of resources in the modern world. Financial markets can fulfil this role if they enjoy the confidence of investors and are free of abuse. The financial frauds associated with the collapse of Enron and the major crises in world leading corporations such as WorldCom, Adelphia, Tyco, and the 'Wall Street financial scandals' have shown that fraud, manipulation, and insider dealing retain a catastrophic presence in modern financial markets. Proper deterrence of market abuse is necessary not only for the effective operation of modern financial markets, but also for regaining investor confidence. This book analyses the mechanics and regulation of two of the most harmful market practices in the modern financial world: insider dealing and market manipulation, which together comprise the offence of market abuse. Avgouleas examines the UK and EC regimes from an interdisciplinary perspective, also making extensive and critical use of US case law. He emphasizes the economic analysis of anti-fraud manipulation regulations and their effects upon market welfare and explores the possible deterrent benefits of civil law remedies.

Insider Dealing and Money Laundering in the EU: Law and Regulation

Author: R.C.H. Alexander

Publisher: Routledge

ISBN: 1317116054

Category: Law

Page: 288

View: 899

This work presents a comparative study of the provisions relating to insider dealing under the EC Insider Dealing Directive. The volume begins with a discussion of the rationale for regulating financial services in general and controlling insider dealing and money-laundering in particular. It examines the definition of an insider and of inside information and the various criminal offenses relating to insider dealing. The role of money-laundering is also recognized and the anti-money laundering regime as well as the considerable impact on the financial sector is discussed in detail. The work assesses the efficacy of criminal law in controlling insider dealing and considers the increasing trend to deal with it by means of civil/administrative measures.


Investment Banking II

Author: Stefan Grundmann

Publisher: Walter de Gruyter GmbH & Co KG

ISBN: 3110286041

Category: Law

Page: 584

View: 2232

In Band 11 - aufgegliedert in Bd. 11/1 und 11/2 - wird das Effektengeschäft im breiten Sinne mit seinen Europäischen und internationalen Bezügen erörtert. Dabei werden neben Übersichten und Einleitungen, etwa zum Emissionsgeschäft, vor allem folgende Einzelgesetze kommentiert: WpHG (jetzt mit MM-VO und EMIR), BörsG, WpProspG, WpÜG, DepotG. Gegliedert ist der Kommentar und z.T. auch die Einzelgesetze nach Teilen, die primär die Bankorganisation betreffen, das einzelne Kundenverhältnis oder allgemein Märkte. Dabei werden in Bd. 11/1 nach der Gesamtübersicht und den Hauptfunktionen des Investment Banking nacheinander das Emissionsgeschäft dargestellt und das Marktrecht im WpHG (inzwischen vor allem in der MM-VO) und im WpProspG kommentiert. Im Bd. 11/2 werden weitere Teile des Marktrechts kommentiert, die erst Mitte 2016 erlassen wurden (Benchmark-VO sowie EMIR und WpÜG), sowie die Bereiche Banken- und Marktorganisation und individuelles Kundenverhältnis (mit der großen WpHG-Novelle 2017 zu §§ 31 ff. sowie dem BörsG und DepotG).

Market Abuse Regulation

Author: Edward J. Swan

Publisher: Oxford University Press

ISBN: 9781904501305

Category: Business & Economics

Page: 218

View: 7554

Market abuse prevention is critical in maintaining confidence in financial markets where competition for large financial transactions is growing more intense. The US has had regulations to counter such market abuse as insider dealing and market manipulation for many years. However, it is only recently that the UK and the EU have thought it necessary to introduce legislation giving their regulators powers to deter and punish market abuse. The purpose of this book is to clarify the meaning, impact and application of the new UK and EU regulations, issues which have generated much interest and apprehension. The book examines in detail the new UK market abuse regime, including: the Financial Services and Markets Act 2000; the implementing regulations; the interpretation of the regulations by the Financial Services Authority; the conduct of investigations; the defences and appeals available against a finding of market abuse. The same analysis is applied to even more recent EU regulations, which have changed UK regulation in significant ways. Finally, in order to help clarify the position of traders in an international market, the book also discusses key issues of how the new UK and EU regulations are likely to interact with US regulation.

Insider Trading and Market Manipulation

Investigating and Prosecuting Across Borders

Author: Janet Austin

Publisher: Edward Elgar Publishing

ISBN: 1786436426


Page: 320

View: 3569

This book explores how the globalization of securities markets has affected market manipulation and insider trading. It delves into the responses of securities regulators, discussing new regulations designed to deter such misconduct, as well as they ways in which detection, investigation and prosecution techniques are adapting to tackle insider trading and market manipulation that crosses international boundaries.

Company Law

Author: Ben Pettet

Publisher: Pearson Education

ISBN: 9780582894181

Category: Corporation law

Page: 437

View: 5365

This title on company law avoids procedural matters and instead concentrates on context and reform policy. A real world perspective is given by including coverage of basic corporate finance as a part of the practical context of company law.

Cases and Materials on Company Law

Author: Andrew Hicks,S.H. Goo

Publisher: Oxford University Press

ISBN: 9780199289851

Category: Law

Page: 649

View: 5374

Cases and Materials on Company Law guides students through the complexities of company law with a broad selection of source materials that are placed in context through clear commentary. It covers all the principal areas of company law including the issue of securites and insolvency. The book concentrates on how the law facilitates and regulates the operation of companies, both large and small, reflecting the realities of current practice. To help students understand the signficance of the material presented, each section is preceded by a concise introduction. Similarly, each case is preceded by a statement of its legal significance and a summary of the main facts. The book has been fully revised to incorporate the groundbreaking changes to domestic company law as a result of the Companies Act 2006. The new edition has been made easier to navigate as a result of a new two colour text design that clearly differentiates extracted material from the authors' commentary.

Research Handbook on Insider Trading

Author: Stephen M. Bainbridge

Publisher: Edward Elgar Publishing

ISBN: 0857931857

Category: Business & Economics

Page: 504

View: 8528

In most capital markets, insider trading is the most common violation of securities law. It is also the most well known, inspiring countless movie plots and attracting scholars with a broad range of backgrounds and interests, from pure legal doctrine to empirical analysis to complex economic theory. This volume brings together original cutting-edge research in these and other areas written by leading experts in insider trading law and economics. The Handbook begins with a section devoted to legal issues surrounding the USÕs ban on insider trading, which is one of the oldest and most energetically enforced in the world. Using this section as a foundation, contributors go on to discuss several specific court cases as well as important developments in empirical research on the subject. The Handbook concludes with a section devoted to international perspectives, providing insight into insider trading laws in China, Japan, Australia, New Zealand, the United Kingdom and the European Union. This timely and comprehensive volume will appeal to students and professors of law and economics, as well as scholars, researchers and practitioners with an interest in insider trading.

Capital Markets Law and Compliance

The Implications of MiFID

Author: Paul Nelson

Publisher: Cambridge University Press

ISBN: 1139471228

Category: Law

Page: N.A

View: 3576

The Markets in Financial Instruments Directive (MiFID) is a detailed re-writing of the regulation of capital markets. To the extent those rules permit, the Financial Services Authority (FSA) is also introducing high-level 'principles-based regulation'. In response to this, Paul Nelson presents practical guidance on the regulation of the capital markets, ranging from new issues and IPOs to investment banking, broker-dealing and asset management. All laws and rules relevant to the regulation of the capital markets are explained and put into context within the economic operation of markets, institutions and products, the European Single Market, the FSA's policies and objectives, the historical evolution of the regulations and the general civil and criminal law. Drawing on 30 years' experience as a practitioner, and referring to a vast range of supporting materials, the author provides an insightful analysis and critique of the rules, the rule makers and the institutions.

Insider Dealing and Criminal Law

Dangerous Liaisons

Author: Iwona Seredyńska

Publisher: Springer Science & Business Media

ISBN: 9783642228575

Category: Law

Page: 278

View: 3908

This work is a multidisciplinary analysis of the issue of insider dealing from the perspective of the applicability of criminal law to regulate it. First, it examines the nature of its prohibition in the European Union and in the United States of America. The text includes a more extensive overview of prohibition in four Member States of the European Union (France, the United Kingdom, Luxembourg and Poland). Then, it summarises the arguments presented by ethicists and economists in favour of and against insider dealing. Further, it analyses the foundations of criminal law and justifications that are given for its application. On the basis of this analysis, it presents a new two-step theory of criminalisation. The first step is based on a liberal theory of wrongfulness that makes reference to protection of the basic human rights. The second step relies on classical but often forgotten principles of criminal law. Finally, it examines possible alternatives to criminal rules.

Corporate Finance Law

Principles and Policy

Author: Louise Gullifer,Jennifer Payne

Publisher: Bloomsbury Publishing

ISBN: 1847317618

Category: Law

Page: 788

View: 6112

Corporate Finance is an area of law which is obviously of significant practical importance, but the academic analysis of this area of law has also been increasingly recognised. This book provides a discussion of the most interesting theoretical and policy issues in Corporate Finance law. This book covers both the equity and debt sides of Corporate Finance law, and seeks, where possible, to compare the two, considering the desirability of each in various circumstances and pointing to areas of convergence and overlap. The topics covered in this book include: an overview of the financing options available to companies; the relationship between debt and equity; legal capital; contractual protection for creditors; proprietary protection for creditors; single and multiple lenders; transferred debt; public offers of shares; the ongoing regulation of the capital market; the regulation of debt; takeovers; schemes of arrangement and private equity. Each chapter analyses the issues so as to enable the reader to understand the difficulties, risks and tensions inherent in this area of law, and the attempts made by the legislature and the courts, as well as the parties involved, to deal with them. This book discusses areas where the law is uncertain, including some difficult conceptual problems, and considers the present law critically, including options for possible reform. This book will be of interest to practitioners, academics and students engaged in the practice and study of corporate finance law.

Czech Yearbook of International Law - Regulatory Measures and Foreign Trade - 2013

Author: Alexander J. Belohlávek,Filip Cerný,Prof. JUDr. Naděžda Rozehnalova

Publisher: Juris Publishing, Inc.

ISBN: 1578233348

Category: Investments, Foreign

Page: 242

View: 2643

The foreign trade is the engine of the global economics. In these turbulent days, when governments and international organizations tend to protect their markets spheres of interest, the application of regulatory measures gains in importance. The Czech Yearbook of International Law - Regulatory Measures and Foreign Trade - 2013 pinpoints these trends and its various aspects on different levels in comparative analysis. The Yearbook provides insight into problematic of regulatory measures in investment law on global level same as from the EU prospective. Similarly, authors also analyze various aspects of the regulatory measures applied in the areas of financial markets and money laundering, market abuse, Common European Sales Law and Consumer Protection. Local practitioners from the region also share their views on the measures in foreign trade on the domestic level and the problems interconnected with such regulation in the region. The new volume of the Czech Yearbook of International Law - Regulatory Measures and Foreign Trade - 2013 brings useful resource for everyone who is dealing with international trade, be it an academic, practitioner, law or international relations student who seeks global compendium on the issue including an overlap to economic and politic aspects of the problematic.

The Little Book of Insider Dealing

Author: Gregory J Durston,Mohsin Zaidi

Publisher: Waterside Press

ISBN: 1909976539

Category: Law

Page: 192

View: 2589

Since the Financial Crisis of 2008, criminal prosecution has moved to centre-stage as the Financial Conduct Authority’s preferred means of punishing and deterring insider dealing (the illegal practice of trading with access to sensitive non-public information). The Little Book of Insider Dealing looks at all aspects of the ‘insider’ offences established by the Criminal Justice Act 1993, including their history, punishment and rationale, as well as their (slightly uneasy) relationship with the overlapping civil regulatory regime that also governs such financial misconduct. Topics covered also include: detection, compliance, surveillance, suspicion, reporting obligations, enforcement and (civil and criminal) penalties and warnings, plus there is a strong focus on evidential aspects and a wealth of examples from real life cases. Suitable for beginners and practitioners alike. The first concise treatment and highly topical. A gem that deals with wide scale problems and complexities identified by an article in The Times (see Chapter 1).

European Comparative Company Law

Author: Mads Tønnesson Andenæs,Frank Wooldridge

Publisher: Cambridge University Press

ISBN: 0521842190

Category: Law

Page: 561

View: 318

An examination of important aspects of the company laws of seven European countries.