A fair market
Would you be willing to put your hard-earned savings into shares quoted on a stock exchange that is not perceived as well run? Of course not. To attract you and other investors, it cannot be a place where some investors, brokers, fund raisers or financiers are in a position to profit unfairly at the expense of other participants. This means, for instance, that insider dealing is prohibited: that is, company officers or others with private knowledge about a company should not use that knowledge to trade in the company’s shares.
You also want brokers to be well regulated so that they act in the interest of investors and so that market makers follow strict codes of behaviour. Markets need to be well regulated to avoid abuses, negligence ...
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