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A Straightforward Insider Trading Statute Is Overdue

Law360, New York (March 24, 2017, 10:58 AM EDT) -- Jason P. Gottlieb

Daniel C. Isaacs Perhaps no financial crime has piqued more interest from investors, lawyers and the media alike than insider trading. So it remains an enduring surprise that in the United States, there is no statute that expressly prohibits buying or selling stock on the basis of material, nonpublic information. Instead, federal law generally tackles insider trading through judicial interpretations of the statutory prohibition on fraud “in connection with the purchase or sale of any security” as set forth in Section 10(b) of...
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