ABSTRACT
This chapter reviews the reported instances of insider dealing and market abuse. It discusses the criminal cases, and the civil cases brought by the Financial Services Authority (FSA). The famous cases of the 1980s and early 1990s actually involved market abuse and in particular share support operations. The aim of the share support operation was, therefore, to boost the Guinness share price. The city code did not address the solicitation of other parties to purchase shares in order to support the share price. Blue Arrow was a direct result of the 1987 stock market crash and involving market abuse. The chapter explores significant cases of the criminals. SFI breached the listing rules by failing to take reasonable care to ensure that its preliminary results announcement issued on the 30 July 2002 was not false or misleading. The use of its powers to issue fines for breaching the listing rules is another means by which the FSA may regulate market abuse.
