sustain an
insider trading conviction against a tippee, the Government
The SEC further claimed that all the elements of
insider trading were established during its investigation; thus, Ongpin was properly meted out the penalty of a P174-million fine for 174 counts of
insider trading.
Yet, all these incidents cannot be taken as clear and direct indication that there was indeed
insider trading,' it added.
In this Review, I will use Black Edge to highlight how the law's ambiguities limit the government's reach in pursuing
insider trading. In particular, I will focus on how the knowledge requirement for securities fraud casts a shadow over the government's campaign against the hedge fund industry's never-ceasing quest for an informational advantage--"edge," be it white, gray, or black.
As per the documents, in major cases of
insider trading and other offences under the exchange ordinance of 1969, action was taken against violators.
Studies testing public attitudes concerning
insider trading have reflected more ambivalence than fear or indignation.
The "misappropriation theory" (49) is distinct from the "classical theory" of
insider trading in which "a corporate insider ...
However, traders watch closely for changes in patterns or unusual
insider trading activity.
Avent and Penna each previously settled
insider trading charges brought against them.
Insider trading is the illegal practice of buying and selling stocks by individuals who have access to insider information or "material nonpublic information" about the securities.
MANILA, Philippines
Insider trading remains a prevalent crime in the Philippines.
The board is scheduled to meet tomorrow to discuss a proposal by a high level committee, which suggested that the regulator should seek powers from the government to intercept calls and electronic communications of those suspected of serious economic offences like
insider trading. The committee, headed by former law secretary and Lok Sabha's ex-secretary general T K Viswanathan, also suggested mandatory whistle-blower policy at listed companies and a series of changes in rules on market frauds,
insider trading, surveillance and investigations.
