Confessions Of A Dark Pool Manager — Trading On The Inside
Have No Illusions — Insider Trading Is Prolific
By: Christopher Roman
This is a bitter lesson for anyone that is under the impression that markets are fair and equal.
They are not.
Let’s start with the institutional realities of insider trading. Most investors do not understand that insider trading is not illegal in all countries. This being the case, then the question arises, which countries actually enforce the law regarding this activity? The answer is, most countries do not enforce the law regarding insider trading. In fact, most countries do not even care or have the resources to stop it.
For example, if Malta instituted a wealth tax― they would have no power to enforce a tax on your combined wealth. Just as Monaco has no power to enforce insider trading laws. Or the reductio ad absurdum, that in China it is not illegal to steal from Americans.
