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The Mechanics and Regulation of Market Abuse
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The Mechanics and Regulation of Market Abuse: A Legal and Economic Analysis

Emilios E. Avgouleas

Abstract

Economic theory implies that financial markets play a prominent role in the efficient allocation of resources in the modern world. Financial markets can fulfil this role if they enjoy the confidence of investors and are free of abuse. The financial frauds associated with the collapse of Enron and the major crises in world leading corporations such as WorldCom, Adelphia, Tyco, and the ‘Wall Street financial scandals’ have shown that fraud, manipulation, and insider dealing retain a catastrophic presence in modern financial markets. Proper deterrence of market abuse is necessary not only for the ... More

Keywords: economic theory, financial markets, financial fraud, civil liability, insider dealing, market manipulation, market abuse, United Kingdom, European Union, regulation

Bibliographic Information

Print publication date: 2005 Print ISBN-13: 9780199244522
Published to Oxford Scholarship Online: January 2010 DOI:10.1093/acprof:oso/9780199244522.001.0001

Authors

Affiliations are at time of print publication.

Emilios E. Avgouleas, author
Assistant Professor, Department of International and European Studies, University of Piraeus

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