Regulators are increasingly relying on new regulations to tackle market abuse and enforcing penalties for financial misconduct, but new data shows this is not translating into fewer deal leaks. Fact is, the number of leaks is jumping, particularly in the U.S.

• In the U.S., about 12.6% of deals were leaked during 2015 – a 58% increase over 2014 and the highest level since Intralinks started tracking the data in 2009.
• Globally, 8.6% of deals leaked, which was just shy of the record.
• On a country basis, India had the highest level, while the U.S. was third overall.
• By sector, real estate had the highest percentage of leaks - 12.9% - in 2015; health placed 2nd; energy & power was 3rd.

Measuring the amount of deal leaks is important from more than an enforcement perspective. Letting information slip out about pending mergers and acquisitions has financial effects, according to a study conducted by Intralinks and the University of London. Deals that leak tend to generate higher premiums than their counterparts, and leaks tend to encourage more bids.

Leaked deals had premiums of 53% over their share prices, compared to 24% for non-leaked. Similarly, 6.4% of leaked deals brought in more than one rival bid, compared to 4.4% for non-leaked.

Here are the year-to-year comparative figures by country: