Insider Dealing, Market Manipulation and Disclosure Obligations: Law & regulation

From the creation of the first financial markets, insider dealing and market manipulation have always been with us. Their exploitation has captured the imagination of lawyers, courts and Hollywood drama (for the lovers of good movies I would highly recommend The Wall Street and The Wolf of Wall Street). Their manipulative designs and corrosive effects have led to enormous financial scandals like Enron and the Libor manipulation and have financially destroyed Wall Street titans; but also, and more tragically, thousands and thousands of unassuming consumers of financial services. The need to understand them and guard against them in the financial services has never been greater.

No financial services professional, be it a trader, asset manager, compliance officer, lawyer or auditor can afford ignorance or negligence of these cardinal concepts and their real-life applications.

This online training program aims to equip practitioners with essential understanding of the above key concepts and how these are applied in practice, focusing on EU law and regulation, but also drawing from lessons learned from the US and the UK. Many real life case-studies will be utilized to illustrate key concepts. The connection between insider dealing, market manipulation and money laundering will also be examined.

The program is divided into three distinct parts to ensure a focused and detailed exploration of each topic.

Aims of the training program

By the end of this training program, participants will:

·       Understand the cardinal concepts of insider dealing, market manipulation and disclosure obligations and their key elements.

·       Be able to trace the development and progress of the above concepts through case studies and legislative references, closing gaps and taking stock of markets’ and technology changes.

·       Appreciate the origins and the continuum of the law and regulation in this area, and the needs that led to the major regulatory advances.

·       Comprehend the distinction between administrative offences and criminal violations for insider dealing and market manipulation; and what are the relevant considerations for determining administrative or criminal treatment.

·       Be able to outline the obligations of investment firms and issuers.

·       Understand the powers of the Cypriot financial markets’ regulator, CySEC.

·       Appreciate the connection between insider dealing, market manipulation and money laundering.

·       Develop a critical approach to cases and real-life situations.