The Financial Services Authority has made a bit of progress in nailing insider dealers, but as reported in these pages yesterday, the scalps tend to be of naive or reckless small fry. The big fish escape detection. Establishing the identity of those who trade is easy. Much harder is establishing a link between them and someone in the bidding or target companies, or their advisers. That requires an appetite and a talent for real detective work. The FSA has yet to show much evidence that it has either.
Hastings is expected to achieve around A$500 million in gross written premiums through its broker business in calendar 2006. Advantage is expected to underwrite A$250 million in gross written premium.
Tags:
Written Premiums
Detective Work
Financial services
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