The U.K.’s
While the FSA took responsibility for prosecuting criminals in 2001, as a result of rampant insider trading in London, it has yet to bring a case forward. The FSA published a report earlier this year indicating that there was potential insider trading in nearly 25% of the mergers in 2005.
The FSA also said that hedge funds do a poor job of monitoring their relationships with banks and other companies that could provide insider information to some of their managers.