Abstract
Like several other countries, the United Kingdom has a regulatory and enforcement framework in place to combat insider trading, as well as other forms of market manipulation practices. Put differently, a robust and relatively effective anti-market abuse regulatory and enforcement framework is in place in the United Kingdom. Consequently, and where appropriate, the relevant enforcement approaches of the United Kingdom’s market abuse regime will be compared with similar approaches that are provided for in the South African anti-market abuse framework. This is primarily done to, inter alia, isolate possible and applicable anti-market abuse enforcement approaches from the United Kingdom’s market abuse regime that could be adopted and/or integrated in the South African anti-market abuse enforcement framework. In relation to this, the role of the Financial Services Authority will be analysed first. Secondly, a similar analysis will be carried out in respect of the courts. Thirdly, the role of the self-regulatory organisations will be discussed. Lastly, final concluding remarks will be provided. DOI: 10.5901/mjss.2014.v5n20p272
Highlights
Like several other countries, the United Kingdom has a regulatory and enforcement framework in place to combat insider trading,1 as well as other forms of market manipulation2 practices.3 Put differently, a robust and relatively effective anti-market abuse regulatory and enforcement framework is in place in the UK
It was noted that South Africa has so far not been able to enforce its market abuse prohibition successfully and consistently in order to increase the combating of market abuse practices in its financial markets
It is suggested that the Financial Markets Act119 should be reviewed to enact provisions that empower the FSB to appoint other additional skilled persons, apart from its own employees, to provide it with reports or relevant information relating to any suspected market abuse violations in South Africa
Summary
The United Kingdom (the UK) has a regulatory and enforcement framework in place to combat insider trading, as well as other forms of market manipulation practices. Put differently, a robust and relatively effective anti-market abuse regulatory and enforcement framework is in place in the UK. The United Kingdom (the UK) has a regulatory and enforcement framework in place to combat insider trading, as well as other forms of market manipulation practices.. A robust and relatively effective anti-market abuse regulatory and enforcement framework is in place in the UK. Where appropriate, the relevant enforcement approaches of the UK’s market abuse regime will be compared with similar approaches that are provided for in the South African anti-market abuse framework.. Where appropriate, the relevant enforcement approaches of the UK’s market abuse regime will be compared with similar approaches that are provided for in the South African anti-market abuse framework.4 This is primarily done to, inter alia, isolate possible and applicable anti-market abuse enforcement approaches from the UK’s market abuse regime that could be adopted and/or integrated in the South African anti-market abuse enforcement framework.
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