The Insider Trading Generally Available and Materiality Carve-Outs: Are They Achieving Their Aims?

(2009) 27 Company and Securities Law Journal 234-254

UWA Faculty of Law Research Paper

18 Pages Posted: 18 Jan 2014

See all articles by Gill North

Gill North

Deakin University, Geelong, Australia - Deakin Law School

Date Written: 2009

Abstract

The article outlines and critiques Australian insider trading case law dealing with the generally available and materiality carve-outs. It explores the potential links from these elements to the economic efficiency and market fairness goals. Ultimately, it suggests that Australian policy-makers, regulators and the judiciary may need to take a step back to reconsider the intended rationales and operations of the insider trading regime. Community and market participant views on enforcement of market abuse in Australia are already very negative. Moreover, it is difficult to reconcile some of the case law with the achievement of economic efficiency and equal access in the marketplace.

Suggested Citation

North, Gill, The Insider Trading Generally Available and Materiality Carve-Outs: Are They Achieving Their Aims? (2009). (2009) 27 Company and Securities Law Journal 234-254; UWA Faculty of Law Research Paper. Available at SSRN: https://ssrn.com/abstract=2380417

Gill North (Contact Author)

Deakin University, Geelong, Australia - Deakin Law School ( email )

221 Burwood Highway
Burwood
Burwood, Victoria 3125, Victoria 3125
Australia

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