Avoid Inadvertent Tipping This Holiday Season

Law360, New York (December 21, 2016, 12:15 PM EST) -- Dixie L. Johnson

Alana L. Griffin

Matthew B. Hanson Just in time for the annual season of work holiday parties and family gatherings, the U.S. Supreme Court unanimously confirmed that leaking material nonpublic information to a close relative who then trades in securities can put both of you at risk, even if the relative does not repay you for the tip.[1] On Dec. 6, 2016, in Salman v. United States, the court held that a tipper’s gift of confidential, inside information to his brother constituted a sufficient personal benefit to support an insider trading conviction of the brother’s friend (who had...

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