Market abuse and insider trading still seen as victimless crimes

Change of mentality needed to confront rise in insider trading says Baker Platt director

Market abuse is still regarded as a victimless crime by many in the industry, warns Ed Shorrock, director of law firm Baker Platt's forensic and regulatory practice based on the British island of Jersey.

"People look at it and say, ‘well, is it really a crime?'," says Shorrock.

This view, he claims, is reflected throughout the industry, meaning insider trading in particular can draw a wide range of participants. Referring to a recent case prosecuted by the UK Financial Services Authority (FSA)