5.3 Role of Regulatory Bodies in Detecting Insider Traders

The detection's craft (SEBON's-and-the-exchange's toolbox): the surveillance systems' analytics (the price-volume anomalies around the announcements — the abnormal-run-ups before the news: the classic red flag), the trading-data investigations (the broker records'-and-beneficiary- account trails — the demat-era's transparency dividend), the insider-lists'-and-disclosurecross-checks (the declared insiders' trades against the windows), the informants-and-complaints, the cooperative probes (the exchange's referrals), and the international cooperation (the cross- border tips — IOSCO's networks, Unit 10.3). The Nepali practice's note (the honest audit): the surveillance-and-analytics capacities are young; the enforcement's cases few — the deterrence still largely reputational; the exam's critical line.