Crackdown!
Recent events - including the share price movements on certain investment banks - have sparked widespread concerns about ongoing market abuse practices at firms. Regulators are getting tough and firms need to reassess their surveillance systems. Victoria Pennington reports
"The biggest deterrent of market abuse is not the severity of the punishment but the likelihood of being caught," says Frederic Ponzo, managing director of business and technology consultancy Net2S in London. In this vein, regulators around the globe are stepping up their efforts to combat market abuse - a term that includes market manipulation and insider trading - with new technology, partnerships with other supervisors, and even the tweaking of existing regulations in the area.
The regulators
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