Insider Trading and Market Manipulation - Investigating and Prosecuting Across Borders (Hardcover)

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. Janet Austin concisely and clearly explains changes to securities markets that have taken place over the last few decades and their impacts, as well as the main detection and investigative techniques of securities regulators. She also provides an analysis of how the work of the International Organization of Securities Commissions (IOSCO) is assisting securities regulators as they gather information and evidence they need in order to prosecute these market offences. The book concludes with suggestions for the IOSCO and securities regulators to improve their efforts in addressing cross-border market manipulation and insider trading, with a view to enhancing the overall integrity of the securities markets. The approachable analysis and hard-to-find information in this book make it a valuable resource for securities regulators, legal practitioners, and academics.

General

Imprint:	Edward Elgar Publishing Ltd
Country of origin:	United Kingdom
Release date:	December 2017
Authors:	Janet Austin
Dimensions:	234 x 156 x 22mm (L x W x T)
Format:	Hardcover
Pages:	320
ISBN-13:	978-1-78643-641-2
Categories:	Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Company law Books > Law > Laws of other jurisdictions & general law > Financial, taxation, commercial, industrial law > Financial law > General
LSN:	1-78643-641-8
Barcode:	9781786436412

Is the information for this product incomplete, wrong or inappropriate? Let us know about it.

Does this product have an incorrect or missing image? Send us a new image.

Is this product missing categories? Add more categories.

Review This Product

My review

Thu, 1 Nov 2018 | Review by: Phillip T.

TAMING THE CROSS-BORDER CROOKS – OR HOW TO CURB INSIDER TRADING ON A GLOBAL SCALE An appreciation by Elizabeth Robson Taylor of Richmond Green Chambers and Phillip Taylor MBE, Head of Chambers and Reviews Editor, “The Barrister” Is the taming, shaming and prosecuting of insider traders operating across borders a well-nigh impossible task? This book by Janet Austin, from Edward Elgar Publishing, contains any number of comments on the difficulties and offers an equal number of valuable suggestions on what might be done. ‘Insider trading’ -- a term reasonably well understood by the general public -- does strike a certain degree of terror in the stony hearts of traders in the Square Mile and other well-regulated jurisdictions, as there have been a few of those found guilty who have suffered years of incarceration, a result. Insider trading, together with market manipulation are basically, in the opinion of author Janet Austin, the twin pillars of market abuse and especially difficult to tackle when perpetrated across borders. This copiously researched and carefully argued treatise is based on her twenty years as a Federal Prosecutor for the Commonwealth Director of Public Prosecutions in Sydney, Australia. Now a member of the Faculty of Law at the University of New Brunswick, Canada, the author recalls one specific case where, after twelve months of repeated requests to a particular country for details of who exactly had placed certain insider trades, there was no response. The file subsequently -- and reluctantly -- was closed. In a global business environment in which securities markets are becoming increasingly interconnected, and where multiple markets are open to investors, situations such as this can, paradoxically, undermine investor confidence, thereby jeopardizing further, the integrity of world securities markets. With increased capacity for cross-border trade via globalization and new technologies, ‘transactions’, as the author puts it ‘cannot now be easily guaranteed’ and therefore all the more difficult for securities regulators intent on protecting market integrity across jurisdictions.’ A core problem here is that market abuse offences can be dealt with only by national securities regulators. As the possibility of an international regulator with teeth is currently remote to say the least, other strategies must be found. This book therefore focuses on the work of the International Organization of Securities Commissions (IOSCO) which assists securities regulators in the collecting of evidence needed to aid securities regulators in the prosecution of market offences. Various improvements to these processes can be put in place, which the author is happy to suggest. To this end, specific cases are cited as examples of how market abuse can be detected, investigated and ultimately prosecuted. For professionals confronting such problems, this book is an important find, presenting as it does, cogent arguments on a difficult subject, supported by a formidable amount of research. Note the 28-page bibliography and extensive footnoting. Practitioners involved in financial services as well as academics should therefore find this volume indispensable. The publication date is cited as at 29th December 2017.

Did you find this review helpful? Yes (0) | No (0)