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The next expansion of insider trading liability came in SEC vs. Materia [76] 745 F.2d 197 (2d Cir. 1984), the case that first introduced the misappropriation theory of liability for insider trading. Materia, a financial printing firm proofreader, and clearly not an insider by any definition, was found to have determined the identity of takeover ...
SEC Rule 10b5-1, codified at 17 CFR 240.10b5-1, is a regulation enacted by the United States Securities and Exchange Commission (SEC) in 2000. [1] The SEC states that Rule 10b5-1 was enacted in order to resolve an unsettled issue over the definition of insider trading, [2] which is prohibited by SEC Rule 10b-5.
SEC Rule 10b-5, codified at 17 CFR 240.10b-5, is one of the most important rules targeting securities fraud in the United States. It was promulgated by the U.S. Securities and Exchange Commission (SEC), pursuant to its authority granted under § 10(b) of the Securities Exchange Act of 1934. [1]
A short swing rule restricts officers and insiders of a company from making short-term profits at the expense of the firm. It is part of United States federal securities law, and is a prophylactic measure intended to guard against so-called insider trading. [1]
The Texas Gulf Sulphur decision represented the first time a federal court held that insider trading violated federal securities laws. [2] The SEC in Cady, Roberts & Co. (1961) had extensively treated insider trading and set out the "disclose or abstain rule", but as an agency opinion, it did not have precedential value in federal courts. [35]
Salman v. United States, 580 U.S. ___ (2016), was a United States Supreme Court case in which the Court held that gifts of confidential information without any compensation to relatives for the purposes of insider trading are a violation of securities laws. [1] The Court relied on its decision in Dirks v.
Under insider trading law, this advantage is an unlawful method. [2] To combat this issue, confidentiality agreements as well as operating under internal policy guidelines are in place. [ 2 ] Section 10(b) of the Securities Exchange Act of 1934 and Exchange Act Rule 10b-5 falls under the category when unknown traders purchase equity call ...
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