Well, let's look at it from the Securities and Exchange Commission's position.
The watchdog, so to speak of the stock exchanges in the US.
So here are some numbers from enforcement actions that the Securities and
Exchange Commission has taken over the last ten years or so.
You can see from the green line on the left
that the number of cases, whereby the SEC had to take
enforcing action on corporations has been decreasing.
So, issuers reporting and disclosure have become,
you could argue more compliant with the rules, enhancing the trust
that the public has in having access to the same information as insiders.
Insider trading, however, has been fairly stable over those past 10 years,
with about 50 cases per year being enforced be the SEC.
If we look at the right-hand side, we see some numbers for market manipulation.