Re:UK Investigatory Powers Bill: Politicians exempt themselv...
by dragonwriter on Friday December 02, 2016 @11:46AM
(#13090117)
> But we don't even have insider trading laws.
Incorrect. While most insider trading prosecutions are done under antifraud provisions of the law, and SEC rules adopted ubder that provision, there is also law directly limiting certain trades of certain insiders (e.g., 15 USC 78p).
> Insider trading is something the courts came up with based on an expanded meaning of fraud.
Even to the extent that we're talking about the kind of insider trading that is prosecutrd,ubder antifraud provisions, this is somewhat misleading in that those provisions are themselves framed differently than the common law definition of fraud, it is not,that the courts have applied an expanded definition of fraud.
Incorrect. While most insider trading prosecutions are done under antifraud provisions of the law, and SEC rules adopted ubder that provision, there is also law directly limiting certain trades of certain insiders (e.g., 15 USC 78p).
> Insider trading is something the courts came up with based on an expanded meaning of fraud.
Even to the extent that we're talking about the kind of insider trading that is prosecutrd,ubder antifraud provisions, this is somewhat misleading in that those provisions are themselves framed differently than the common law definition of fraud, it is not,that the courts have applied an expanded definition of fraud.