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Insider Dealing and Money Laundering in the EU: Law and Regulation.

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Vincent
AuthorNimmo, Martin

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Insider Dealing and Money Laundering in the EU: Law and Regulation Author: R C H Alexander Publisher: Ashgate Price: 55 [pounds sterling] ISBN: 978 0 7546 4926 7

While it's not exactly a bedtime read--unless you're an enthusiast or an insomniac--this book contains compelling information and scenarios. It takes a lawyer's approach to both insider dealing and money-laundering, dealing exhaustively with the legal aspects as they stood. I say "stood" because, by the time you read this, the Money Laundering Regulations 2007, which enact the third EU money-laundering directive into UK law, will almost be upon us. The draft regulations, which have themselves been altered substantially in the interim, were not published until January 2007--some time after this book must have gone to press--so it is already behind the times on money-laundering issues. But it still gives useful examples of how different EU states have managed under the second directive, and it is particularly full in its description of case law.

Insider dealing and money-laundering are not entirely natural bedfellows: insider dealing may or may not be a crime and may or may not give rise to a money-laundering offence, depending on the member state concerned, the amount of money involved and the use to which it is put. indeed, until relatively recently, insider dealing was thought to be one of the perks of the job in some countries. But the Proceeds of Crime Act 2002 (Poca) in the UK brought insider dealing within the money-laundering regime, as it covers "assisting another to retain the benefit of" a criminal offence. The author says: "Insider dealing, like many financial crimes, is not one...

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