5 ms·
Caveat that other jurisdictions do take a broader view (from memory, France is one that comes to mind where overhearing something confidential and trading on it
by andylynch 3y ago
Caveat that other jurisdictions do take a broader view (from memory, France is one that comes to mind where overhearing something confidential and trading on it is unlawful).
- kasey_junk 3y agoYes! Very explicitly I mention the US because our insider trading laws are based on a different theory than European laws (for instance)
- compsciphd 3y agoI believe the SEC went after capital one analysts who used information capital one has via credit card usages at stores to trade against companies not capital one. While one might say that the info that capital one had was proprietary (as they deffinitely use it for other things), its hard to view it ast hurting people one has a fiduciary duty to, but I believe they still won the conviction.
- kevinmchugh 3y agoWere the analysts acting independently or on behalf of capital one? Because on its face it's capital one's information to trade with (other laws not withstanding)
- compsciphd 3y agoyes they were acting on behalf of capital one, I'm just saying why its just not fidicuary duty to shareholders of traded company.