Bharara Group To Explore Changing Insider Trading Law
Law360 (October 11, 2018, 6:51 PM EDT) -- An insider trading task force of the sort proposed by former Manhattan U.S. Attorney Preet Bharara earlier this week could bring much-needed clarity to the law by defining key aspects such as personal benefit and materiality, experts say.
The U.S. doesn't have a law that explicitly bans insider trading, so cases of this nature are currently brought under the broad Securities and Exchange Act of 1934, and rulemaking is largely done through court decisions. Bharara, who called the U.S. insider trading laws "hopelessly out of date," will lead an eight-person insider trading task force to recommend changes to Congress and the...
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