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01 May 2008 / George Davies , Richard Burger , Peter Steel
Issue: 7319 / Categories: Features , Public , Regulatory , Commercial
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Regulatory Column

The Practitioner

What a Mess!

The late, great Frank Muir used to write about the antics of a rather scruffy Afghan Hound. All those who came across the unfortunate mutt would exclaim: “What a mess!” Unsurprisingly, the poor animal came to believe that this was in fact his real name. One would not be surprised to find that those whose task it is to contain the perennial problem of insider dealing and market abuse in the UK might have a similar reaction when they try and implement the latest initiatives from HM Treasury and the Financial Services Authority (FSA) in this area.

HM Treasury recently produced a “consultation paper” dated 7 February 2008. It's always hard not to think of the words “kick” “long” and “grass” when one sees the word “consultation” in this context but perhaps genuine input from market users is what HM Treasury wants (or needs) this time round.

Defining Market Abuse

Since the adoption of the Market Abuse Directive (MAD) in July 2005, s 118 of the Financial Services and Markets Act 2000 (FSMA

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MOVERS & SHAKERS

Jurit LLP—Caroline Williams

Jurit LLP—Caroline Williams

Private wealth and tax team welcomes cross-border specialist as consultant

Freeths—Michelle Kirkland Elias

Freeths—Michelle Kirkland Elias

International hospitality and leisure specialist joins corporate team as partner

Flint Bishop—Deborah Niven

Flint Bishop—Deborah Niven

Firm appoints head of intellectual property to drive northern growth

NEWS
Talk of a reserved ‘Welsh seat’ on the Supreme Court is misplaced. In NLJ this week, Professor Graham Zellick KC explains that the Constitutional Reform Act treats ‘England and Wales’ as one jurisdiction, with no statutory Welsh slot
The government’s plan to curb jury trials has sparked ‘jury furore’. Writing in NLJ this week, David Locke, partner at Hill Dickinson, says the rationale is ‘grossly inadequate’
A year after the $1.5bn Bybit heist, crypto fraud is booming—but so is recovery. Writing in NLJ this week, Neil Holloway, founder and CEO of M2 Recovery, warns that scams hit at least $14bn in 2025, fuelled by ‘pig butchering’ cons and AI deepfakes
After Woodcock confirmed no general duty to warn, debate turns to the criminal law. Writing in NLJ this week, Charles Davey of The Barrister Group urges revival of misprision or a modern equivalent
Family courts are tightening control of expert evidence. Writing in NLJ this week, Dr Chris Pamplin says there is ‘no automatic right’ to call experts; attendance must be ‘necessary in the interests of justice’ under FPR Pt 25
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