Issuers at Midstream: Disclosure of Multistage Events in the Current and in the Proposed EU Market Abuse Regime

Noia, Carmine Di; Gargantini, Matteo

doi:10.1515/ecfr-2012-0484

Cited by 2 publications

(1 citation statement)

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“…As examples of a direct relation to the issuer, we can mention information about the profit of a company, about new credit Insider trading in the European Union agreements or new investment agreements or about changes in the composition of governing bodies or in the ownership (Seredy nska, 2012). On the other hand, an indirect relation to the issuer includes all macroeconomic information, such as about a new law (especially concerning the branch of industry of the issuer) or about decisions of central banks on interest rates (Di Noia and Gargantini, 2012).…”

Section: Insider Trading In the European Unionmentioning

confidence: 99%

Insider trading in the European Union and in Brazil: a comparison of the essential elements of its definition

Błachnio-Parzych

Castro

2021

JFC

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Purpose The purpose of this study is a comparison of anti-insider trading regulations in the European Union (EU) and in Brazil. Design/methodology/approach The subject of the comparison are three key elements that define the shape of the protection against insider trading, namely, the definition of inside information, the definition of insiders and the kinds of behaviours that are forbidden. Findings There are both differences and similarities between EU and Brazilian legislations on insider trading. The main discrepancies found in the three foci of the analysis seem to relate strongly to the different rationales for the prohibition of insider trading adopted in the two legal systems. In the EU, market egalitarianism and thus the parity of information, are the central concepts, whereas fiduciary duties originally constituted the point of reference in Brazil, although it has been losing importance over time owing to subsequent changes in the legislation. In sum, while anti-insider trading regulations in the EU have a well-defined identity, in Brazil their policy basis seems to be in the process of redefinition. Originality/value As of the time of submission of this study no published academic works dedicated substantially to a comparison of the anti-insider trading legislation of the EU and Brazil could be found.

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Section: Insider Trading In the European Unionmentioning

confidence: 99%