UK: the FSA and insider dealing

The FSA's Director of Enforcement, Margaret Cole, recently delivered an after dinner speech on the subject of insider dealing at the Cambridge International Symposium on Economic Crime.  The speech, which began light heartedly with Ms Cole's observations on her early studies of company law, proceeded to outline the FSA's approach to insider dealing. In the course of her speech Ms Cole noted:

Since the start of this year we’ve commenced 3 criminal prosecutions for insider dealing and we have several more cases under investigation. And some of you may have seen that a few weeks ago we carried out a major search and arrest operation involving 10 premises and 8 individuals. We’re determined to use all our powers to investigate and gather evidence to bring the right cases. We know that this is a long term plan – we won’t clean up the markets overnight. We need to prosecute a steady stream of cases demonstrating by our visible activity that the FSA means business"