Open AccessInsider Trading and Other Securities Frauds in the United States: Lessons for Chile
Author(s) -
Dante Figueroa
Publication year - 2014
Publication title -
michigan business and entrepreneurial law review
Language(s) - English
Resource type - Journals
eISSN - 2375-7558
pISSN - 2375-7523
DOI - 10.36639/mbelr.3.2.insider
Subject(s) - fiduciary , insider trading , shareholder , investment banking , business , insider , private placement , accounting , security market , securities fraud , transparency (behavior) , alternative trading system , broker dealer , corporate governance , financial system , finance , algorithmic trading , law , political science , duty , supreme court
This Article is a comparative analysis of insider trading law in the United States and Chile. The study summarily reviews the historical, political, and legal foundations of insider trading regulation in both jurisdictions, identifying areas of convergence, as well as areas in which the Chilean securities market could benefit vis- ` a-vis the more advanced experience of the considerably larger American securities market. The Article also highlights the axiological closeness between both jurisdictions concerning the protection of inside corporate information and the fiduciary role of those who intervene in securities markets in their various capacities (as investors, shareholders, corporate officers, consultants, advisors, or as other intermediary roles). The Article concludes by identifying a series of reforms that might potentially benefit the Chilean legal system as it works towards its stated purpose of protecting and promoting transparency in its national securities market.