Economic crime report 2004 - Ekobrottsmyndigheten

The following observations have been made.
• Investigations of illegal insider trading indicate that the suspects are
still those with primary access to information.
• The incentive for insider crime is information that has not been
made public. The investigations demonstrate that, all too often,
businesses continue to handle such information in an unprofessional
manner.
Finansinspektionen cooperated with EBM during the year by means of
ongoing contact on individual cases. The supervisory authority’s investigators
also assisted prosecutors during their pretrial investigations.
Involving the prosecutor at as early a stage as possible made for improved
collaboration.
Detailed regulations are being issued in connection with the new EU
Directive on Market Abuse. Through its work on the Committee of European
Securities Regulators (CESR), Finansinspektionen helped write proposals
for the regulations.
To improve supervision of securities trading, Finansinspektionen keeps a
register of people with insider status at listed companies, as well as their
transactions and holdings. Parts of this insider register are available at
Finansinspektionen’s website: http://www.fi.se
Table 17
Number of insider investigations
1998 1999 2000 2001 2002 2003
Opening balance 28 27 75 59 39 40
Begun 38 80 45 59 47 62
Completed 39 32 61 79 46 52
Closing balance 27 75 59 39 40 50
(of which reports to EBM) 3 7 8 3 8 15
Table 18
Number of investigations of improper influence on share prices
1998 1999 2000 2001 2002 2003
Opening balance 1 4 6 17 11 14
Begun 6 11 18 12 16 10
Closing balance 3 9 7 18 13 15
Closing balance 4 6 17 11 14 9
(of which reports to EBM) 0 4 6 2 5 6
47