U.S. Supreme Court to Resolve Lower Courts' Split on "Tippee" Insider Trading Criminality
By on January 22, 2016
The U.S. Supreme Court will review the Ninth Circuit's recent “tippee” insider trading case, United States v. Salman. The review is significant, because what's legal and what's not has become too unsettled - especially in the wake of the Second Circuit’s 2014 decision in United States v. Newman and Chiasson.
And if the U.S. Supreme Court's views, while of course the last word on what current law is, undermine even slightly the integrity of U.S. securities markets ... then it's time for legislative definitions of what insider “tippee” trading is legal. And what is not.
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