The global stock markets are intended to be efficient markets
in which rational profi t-maximisers actively compete with
each other trying to predict future market values of individual
securities, and where important current information is almost
freely available to all participants.
In the real world some market participants, such as company
directors and corporate advisers, have access to some
information more quickly and more easily than do others.
In
order to regulate how these market participants can use
this privileged information, national regulators and stock
exchanges have created a range of rules in order to prevent
the market being distorted. In many jurisdictions these rules
carry criminal as well as civil penalties.
It is therefore incumbent on all those honestly operating
in the world’s stock markets to make themselves aware of
the insider dealing rules that apply and to act in a way that
ensures that these rules are not breached.
International Insider Dealing is an essential book that will
ensure that you are aware of your obligations. It provides a
comprehensive overview of the key rules relating to Insider Dealing.
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