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ARTICLE · 16 MARCH 2017

The Call For A Statutory Insider Trading Law

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Judge Jed S. Rakoff (S.D.N.Y.) recently made headlines after urging lawyers to draft and advocate for a more straightforward insider trading statute to replace judicially-created insider trading law.

United StatesConsumer Protection
Securities Litigation, Investigations And Enforcement
Securities Litigation, Investigations And Enforcement
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Authored by George Greer, Danielle Van Wert and Cesar Valdez

Judge Jed S. Rakoff (S.D.N.Y.) recently made headlines after urging lawyers to draft and advocate for a more straightforward insider trading statute to replace judicially-created insider trading law. During his keynote speech at the New York City Bar's annual Securities Litigation & Enforcement Institute, Judge Rakoff explained that the law has become overly-complicated since courts were forced to define insider trading by shoehorning the concept into the fraud provisions of the Securities Exchange Act of 1934. As a result, increasingly suspect theories have been developed to address potential insider trading in an expanding variety of scenarios.

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