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Journal Articles

Securities Law

Securities law

2016

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When Does Corporate Criminal Liability For Insider Trading Make Sense?, John P. Anderson Jan 2016

When Does Corporate Criminal Liability For Insider Trading Make Sense?, John P. Anderson

Journal Articles

It is clear that not all insider trading is victimless, and not all employers of insider traders are innocent. But I am convinced that these critics are correct to point out that the current enforcement regime is absurdly overbroad in that it affords no principled guarantee to corporate victims of insider trading that they will not be indicted for the crimes perpetrated against them. The law should be reformed to ensure that corporations are only held criminally liable where they are guilty of some wrongdoing.