The Financial Services Authority [FSA] is planning to introduce bigger fines and jail time for insider traders.
Figures indicate insider dealing is rampant in the UK with between a quarter and a third of takeovers being subject to so-called “informed price movements”.
Notwithstanding media speculation - fuelling investor speculation and of course semi-psychic analysts - it is clear that there is a hardcore tradition of insider dealing that as yet, has not been deterred by current regulation and penalties.
The US approach to ‘cuffing and stuffing’ may well be the way forward for the UK and would be a departure from the FSA’s use of civil prosecution into laying criminal charges.
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