Investigating and enforcing insider trading and market manipulation laws across borders

This chapter concisely sets out the enforcement powers of the principal securities regulators of Canada, United Kingdom, United States, Australia and Germany. From interviews by the author and material published by those regulators, it then examines how the transformation of the markets have altered the nature of cross-border insider trading and market manipulation, including the types of offences that are now proliferating. The chapter also details the way in which regulators detect, investigate and prosecute insider trading and market manipulation, how they are working with their counterparts in other countries in relation to this issue, and examines some of the challenges faced by them in this regard. Some strategies are suggested which might be adopted to further improve the detection, investigation and prosecution of cross-border insider trading and market manipulation.