When asked to speak to clients and other groups about the perils of insider training, Rosemary Fanelli, managing director and head of U.S. compliance consulting at Duff & Phelps, faces a unique challenge: the lack of a formal definition of the trespass from regulators and legislators.
“I always ask a group, ‘Does anybody know which rule specifically prohibits insider trading?’ I wait to see if anybody is going to raise their hand. No one ever does. That’s because there isn’t one,” Fanelli says.
