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“If in doubt count it out!”: a review of the AIT criminal trial

“If in doubt count it out!”: a review of the AIT criminal trial Purpose – The purpose of this paper is to consider the outcome of the Financial Services Authority (FSA)'s first ever contested criminal prosecution of company directors accused of making misleading statements to the market. Design/methodology/approach – The paper reviews the trial and the comments of the trial judge and court of appeal on sentence and confiscation. Findings – This case shows the FSA's willingness to prosecute significant cases of market misconduct and how seriously the courts consider such behaviour. Originality/value – This paper will be of interest to the directors and officers of listed companies, their professional advisers and regulatory lawyers. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Regulation and Compliance Emerald Publishing

“If in doubt count it out!”: a review of the AIT criminal trial

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Publisher
Emerald Publishing
Copyright
Copyright © 2007 Emerald Group Publishing Limited. All rights reserved.
ISSN
1358-1988
DOI
10.1108/13581980710727047
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to consider the outcome of the Financial Services Authority (FSA)'s first ever contested criminal prosecution of company directors accused of making misleading statements to the market. Design/methodology/approach – The paper reviews the trial and the comments of the trial judge and court of appeal on sentence and confiscation. Findings – This case shows the FSA's willingness to prosecute significant cases of market misconduct and how seriously the courts consider such behaviour. Originality/value – This paper will be of interest to the directors and officers of listed companies, their professional advisers and regulatory lawyers.

Journal

Journal of Financial Regulation and ComplianceEmerald Publishing

Published: Feb 27, 2007

Keywords: Financial reporting; Crimes; Financial services

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