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Privileging Professional Insider Trading, Sarah Baumgartel

Georgia Law Review

This Article explores insider trading law's increasing
focus on personal relationships, and the way in which the
law has come to privilege professional over
nonprofessional insider trading. The Article discusses
how, in an effort to expand insider trading liability, the
government has sought to impose legal duties of loyalty
and confidentiality on a host of personal relationships not

otherwise subject to law-effectively basing civil and
criminal penalties on "corruption" in purely personal
relationships. At the same time, courts have adopted a
business property rationale regardingthe use of nonpublic
information and declined to prevent companies from
disclosing valuable nonpublic information to …