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https://hdl.handle.net/1959.11/27634
Title: | Is Insider Trading a Necessary Evil for Efficient Markets?: An International Comparative Analysis | Contributor(s): | Semaan, Lori (author); Freeman, Mark A (author); Adams, Michael A (author) | Publication Date: | 1999 | Handle Link: | https://hdl.handle.net/1959.11/27634 | Abstract: | Securities markets regulations have two main objectives, to promote market efficiency and market fairness. This article demonstrates that the insider trading regulations in Australia and overseas have been fuelled by excessive reaction by politicians and regulators to the notion of fairness at the expense of efficiency. In Australia, this has caused the insider trading regulations to be too encompassing compared to the regulations in six other securities markets examined in detail. For example, given the facts, the recent committal to trial of a J B Were broker on insider trading charges is less likely to have occurred in the six other regimes. Also, Australia's continuous disclosure regulations are deliberately intertwined with the insider trading regulations, which is not the case for the six competing regimes examined. The intention of this article is to challenge regulators, law reformers and academics to reflect objectively on current insider trading regulations with a view to reform. | Publication Type: | Journal Article | Source of Publication: | Companies and Securities Law Journal, v.17, p. 220-246 | Publisher: | Lawbook Co | Place of Publication: | Australia | ISSN: | 0729-2775 | Fields of Research (FoR) 2008: | 180106 Comparative Law | Socio-Economic Objective (SEO) 2008: | 949999 Law, Politics and Community Services not elsewhere classified | Peer Reviewed: | Yes | HERDC Category Description: | C1 Refereed Article in a Scholarly Journal | Publisher/associated links: | http://sites.thomsonreuters.com.au/journals/category/company-and-securities-law-journal/ |
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Appears in Collections: | Journal Article School of Law |
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