AN ANALYSIS OF COMPLIANCE OFFICER - ATTITUDES TOWARDS INSIDER DEALING

Influenced by the work of Edwin Sutherland and followers, this case st udy focuses upon the attitudes of the Compliance Officers employed by the British financial services industry in the aftermath of the Financ ial Services Act of 1986. The Act sought to provide an all-embracing s eries of rules for the conduct of investment business, policed by spec ially appointed officials. A survey of Compliance Officers establishes that there is considerable similarity in viewpoints between officers and practitioners. The Officers have weak positions in their organisat ions and do not appear likely to provide a sufficient degree of regula tory oversight to enable insider dealing to be efficiently detected, i nvestigated and prosecuted.