The damage of market manipulation on securities markets

Many a Hollywood movie has covered the topic of insider trading from the 1987 movie Wall Street, from which the quote “greed is good” comes from, to the more recent The Wolf of Wall Street in 2013. We can trace many of the securities laws (shares and other fnancial instruments) as defned in the Corporations Act 2001 (Cth) to the US Wall Street Crash of 1929 and the creation of the Federal Securities Exchange Commission (SEC). Australia followed a mixture of British and US laws until a major overhaul, 20 years ago, called the Financial Services Reform legislation in 2001. This replaced Chapter 7 of the Corporations Act with a brand new approach.