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Author:
Publisher:
ISBN:
Category : Insider trading in securities
Languages : en
Pages : 402
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Book Description
Author:
Publisher:
ISBN:
Category : Insider trading in securities
Languages : en
Pages : 402
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Book Description
Author: William K. S. Wang
Publisher:
ISBN:
Category : Insider trading in securities
Languages : en
Pages : 966
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Book Description
Author: Barry Alexander K. Rider
Publisher:
ISBN:
Category : Law
Languages : en
Pages : 500
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Book Description
Author: Rita Cheung
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
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Book Description
This article attempts to provide a critical assessment of the new statutory private right of action in Hong Kong. The first part of this article outlines the rationales for the introduction of the statutory private action. The second part critically examines the new statutory regime for private action, identifies its potential problems, and suggests recommendations for reform. It is argued that the private action in Hong Kong is seriously flawed in that it fails to solve the conundrum of causation, and leaves the damages question completely unaddressed. Perhaps more importantly, it fails to define what class of persons, if any, should be entitled to bring such suits. The vague language of section 281 has created significant confusion and difficulties for private claimants, making it unlikely that this route will ever be used. These difficulties include an under-inclusive standing for claimants, the fundamental problem of proving causation, and the lack of a meaningful remedy. As such, this article suggests that the efficacy of the private action can be improved through the express adoption of the contemporaneity requirement. The issue of causation should be addressed with a presumption in a contemporaneous trade that a claimant would not have traded had he known the inside information. The concern with potentially draconian damages should be addressed by damage caps in replacement of the 'just, fair and reasonableness' requirement.
Author: C. Edward Fletcher
Publisher:
ISBN:
Category : Insider trading in securities
Languages : en
Pages : 658
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Author: Bernhard Bergmans
Publisher: Springer
ISBN:
Category : Business & Economics
Languages : en
Pages : 248
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Book Description
This book thoroughly re-examines the foundations of liability in respect of insider dealing in the USA and EC in order to find clear guidelines for future judical, administrative and legal action, and develops a new approach to insider dealing regulation. Despite the considerable legislative, administrative and judical efforts in the USA to curtail insider trading it is not clear what the bases for such prohibition are, In law or policy. The dramatic increase in insider trading activity in recent years renders more intense the requirement for a rational and explicit basis for such liability to fulfil the needs of elementary justice. Through a different historical route efforts to tackle the same problem in Europe, particularly over the last ten years by the European Commission, have resulted in a similar legal dichotomy: a legal basis for liability is established but its foundation is insufficiently scrutinized, which will become apparent as the new European Insider Trading Directive is interpreted.
Author: Gil Brazier
Publisher: Routledge
ISBN: 1874241023
Category : Law
Languages : en
Pages : 311
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Book Description
Insider dealing is rarely out of the news for long these days. At regular intervals, there are Press reports of unusual price movements or trading in the shares of companies which may or may not be doing well or be keen to acquire other companies or to avoid being taken over themselves. It is usually said that the matter is being investigated 'by the authorities' and that may be the last of it that is heard. But what happens and who may be involved? This book attempts to answer those and other related questions. Concentrating of the restatement of insider dealing law contained in the Criminal Justice Act 1993, it outlines the overall law and practice governing the regulation of the criminal office of insider dealing and of certain other 'securities' market offences in the UK. It places the relevant legislation into the context of securities law as a whole. The historical background is explained as is the way in which 'securities' business is effected in the 'City' and how it is presently regulated. It is therefore hoped that this book may be of use to legal and compliance practitioners, to regulators and also to those otherwise studying or teaching 'securities' law, whether at university or college or in respect of a relevant professional or securities industry examination.
Author: Henry G. Manne
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 296
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Author: Richard A. Booth
Publisher:
ISBN:
Category :
Languages : en
Pages : 22
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Book Description
In a recent article, I argued that diversified investors - the vast majority of investors - would prefer that securities fraud class actions under the 1934 Act and Rule 10b-5 be dismissed in the absence of insider trading or similar offenses during the fraud period. See Richard A. Booth, The End of the Securities Fraud Class Action as We Know It, 4 Berk. Bus. L. J. 1 (2007), http://ssrn.com/abstract=683197. In this article, I draw on the classic case, SEC v. Texas Gulf Sulfur Company, to show that the federal courts originally viewed securities fraud as inextricably connected to insider trading and that the recognition of separable causes of action has caused much of the difficulty in this area. I argue that the federal law of insider trading fails to capture many of ways that insiders can misappropriate stockholder wealth. For example, timing and backdating in connection with stock option grants likely do not constitute insider trading but likely do constitute misappropriation. Thus, I here address the question of how to define misappropriation of stockholder wealth in the context of a derivative action based on securities fraud. I conclude that the question is essentially one of state law fiduciary duty that should be decided by state courts under the emerging duty of candor. Although this solution raises potential conflicts with federal law in general and SLUSA in particular, I argue that these conflicts are no different from conflicts that arise in many state law cases that touch on issues of disclosure. Moreover, I argue that handling such claims under state law is more consistent with the federal statutory scheme and ultimately preferable to developing or maintaining a separate body of federal law addressing either securities fraud or insider trading.
Author: William Savitt
Publisher:
ISBN: 9781910813645
Category :
Languages : en
Pages : 310
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Book Description
