ABSTRACT
The areas of financial crime where legislation and regulation have had the greatest potential impact on society at large are money laundering and market abuse/insider dealing. Both are areas where large amounts of time and money have been spent developing laws and regulations that have had little impact on reducing the crimes concerned. The reporting requirement under s.330 arises when someone has reasonable grounds for suspecting that someone else is engaged in money laundering, where that knowledge or suspicion came into that person's possession in the course of their business in the regulated sector. The insider dealing and market abuse issues that the law and Financial Conduct Authority (FCA) regulations are seeking to deal with here are known to be disturbingly common. Carrying out transactions which employ fictitious devices or deception is a category of market abuse. Market abuse by dissemination consists of behaviour such as knowingly or recklessly spreading false information about investment through the media.
