Information, Privilege, Opportunity, and Insider Trading

Block, Walter E.; McGee, Robert W.

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Information, Privilege, Opportunity, and Insider Trading

Northern Illinois University Law Review, Vol. 10, No. 1, pp. 2-35, 1989

16 Pages Posted: 21 Jul 2011

See all articles by Walter E. Block

Walter E. Block

Loyola University New Orleans - Joseph A. Butt, S.J. College of Business

Robert W. McGee

Fayetteville State University - Department of Accounting

Date Written: July 20, 2011

Abstract

Insider trading legislation requires insiders to publicly report their trades through securities commissions and prohibits them from using confidential, undisclosed information that is material to the value of securities in connection with the trades.' In Canada, insider trading is both a civil and quasi-criminal offense.' In the United States, Rule 10b-5 of the Securities Exchange Act is often cited as authority for prosecuting insider trading cases. We will examine this subject.

Suggested Citation: Suggested Citation

Block, Walter E. and McGee, Robert W., Information, Privilege, Opportunity, and Insider Trading (July 20, 2011). Northern Illinois University Law Review, Vol. 10, No. 1, pp. 2-35, 1989, Available at SSRN: https://ssrn.com/abstract=1890819