The performance of corporate legal insider trading in the Korean market

Mazza, Paolo; RUH, Benjamin

doi:10.1016/j.irle.2022.106076

Cited by 1 publication

(1 citation statement)

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“…The majority of scholars like Al-Qatanani (2014) and Mazza and Ruh (2022) categorises IT as an unethical, unjust and harmful activity that damages investors' trust in the financial economy. This is because insiders with non-public information will be able to avoid losses and benefit from gains which in turn eliminates the inherent risk that investors without the inside information take on by investing.…”

Section: The Debate Surrounding Insider Tradingmentioning

confidence: 99%

Insider trading laws to counter financial crime: a comparative study of Mauritius, UK and US laws

Beebeejaun

2023

JFC

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Purpose The rise in business activities coupled with free trade liberalisation across countries has entailed an increase in securities transaction as well as insider trading (IT). In fact, IT is characterised by the influence and usage of some prior knowledge concerning sensitive information of a corporate body which results in a financial benefit to the insider trader. The practice of IT is not only unethical but also illegal and this statement is witnessed by the mushrooming of laws across the globe categorising IT as an offence. However, the type of punishment varies in different countries depending on various factors. Consequently, the purpose of this paper is to assess the adequacy and efficiency of IT laws in the context of a developing country being Mauritius. Design/methodology/approach To achieve the research objective, the Mauritian laws on IT were compared with the corresponding laws of some developed countries like the USA and the UK. As such, a qualitative research method was adopted. In particular, the black letter approach was used to examine the relevant laws of Mauritius, UK and USA on IT. A comparative analysis was conducted concerning IT laws for each country with the view of suggesting recommendations for Mauritian stakeholders to adopt to enhance the existing legal and regulatory framework on IT. Findings It was found that Mauritian IT laws are largely inspired from both the US and UK corresponding legislation. However, Mauritian laws need to be strengthened by imposing some more severe penalties in terms of fines and terms of imprisonment like the USA has established. The Mauritian Financial Services Commission as the regulator also needs to play a more active role in disseminating particularities of IT laws, offences and penalties to the civil society at large. Originality/value At present, this study will be among the first academic writings on the efficiency of IT laws in Mauritius and also, because existing literature is quite scarce on assessing the adequacy of IT legislation in developing countries, this research aims at filling in the gap in literature. The study is carried out with the aim of combining a large amount of empirical, theoretical and factual information that can be of use to various stakeholders and not only to academics.

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Section: The Debate Surrounding Insider Tradingmentioning

confidence: 99%

Insider trading laws to counter financial crime: a comparative study of Mauritius, UK and US laws

Beebeejaun

2023

JFC

View full text Add to dashboard Cite

show abstract

The performance of corporate legal insider trading in the Korean market

Cited by 1 publication

References 50 publications

Insider trading laws to counter financial crime: a comparative study of Mauritius, UK and US laws

Insider trading laws to counter financial crime: a comparative study of Mauritius, UK and US laws

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