Market participants have the impression that insider trading in South African has decreased, according to a report released in Johannesburg on Wednesday.
”The new regime has changed prevailing attitudes to insider trading, resulted in new policies and approaches among listed corporates and their advisers, and — according to most market participants — led to a sharp reduction in the perceived incidence of insider trading,” said Rob Barrow, chairperson of the Insider Trading Directorate.
This conclusion was drawn from a survey on the impact of new anti-insider-trading measures taken since the Insider Trading Act took effect in January 1999.
The survey included actively traded listed companies, member firms of the JSE Securities Exchange and asset management companies, as well as corporate finance, audit and law firms. — Sapa