As the investments and operations of hedge fund managers become increasingly global, managers must contend with a growing number and complexity of regulatory regimes.  One of the most complicated and important areas in which regulation varies from jurisdiction to jurisdiction is insider trading.  Insider trading regulation is complex enough domestically.  When you factor in the asymmetry among global regimes; different treatment of the same conduct; the often counterintuitive aspects of insider trading doctrine; and the ease of tripping jurisdictional wires, global insider trading regulation becomes a minefield for the unwary hedge fund manager.  Moreover, non-U.S. regulators – in the United Kingdom, Hong Kong and Japan, among other places – are growing more vigorous in their insider trading enforcement.  To help hedge fund managers identify and address some of the most important issues in global insider trading regulation, the Hedge Fund Law Report recently interviewed Adam Wasserman, a Partner at Dechert LLP.  The interview covered, among other topics: the biggest differences between the insider trading laws of the U.S. and non-U.S. jurisdictions; the unexpected aspects of insider trading doctrine from various jurisdictions; a discussion of the Greenlight Capital U.K. insider trading settlement; the relevance of the scienter element in insider trading claims in non-U.S. jurisdictions; the applicability of U.S. insider trading laws to conduct outside of the United States; the applicability of various jurisdictions’ insider trading laws in complex situations; whether the U.S. Securities and Exchange Commission (SEC) and the U.S. Department of Justice (DOJ) are focusing insider trading efforts domestically or globally; identification of jurisdictions becoming more forceful in insider trading enforcement; the views of hedge fund managers with respect to domestic versus global insider trading issues; and policies and procedures hedge fund managers should implement to understand insider trading regulations where they do business and to prevent violations.  This article provides the complete transcript of our interview with Wasserman.  This interview was conducted in conjunction with the Regulatory Compliance Association’s upcoming Symposium entitled Compliance, Risk & Enforcement 2012.  Wasserman will be one of various asset management industry thought leaders participating at that Symposium, which will take place on October 30, 2012 at the Pierre Hotel in Manhattan.  Subscribers to the Hedge Fund Law Report are eligible for discounted registration.