After the recent widely reports insider trading case. I read the law as carefully as I could. Now the information does not have to come from the company. It just has to be not publicly known. And it could affect the price OR value of a share.
Now think this through.
It could be interpreted that Warren Buffet could not buy shares in Australia. His opinion wound affect the price. Insider trading? Sounds ridiculous but that is the way the law is written. So is the opinion of someone, not publicly known going to affect the price? Well selling short a stock with the non-public knowledge of a very negative analysis is due sounds like it transgresses the AUSTRALIAN INSIDER TRADING LAW to me.
We're not in Kansas anymore.
ps I think the law should be amended to not permit such a broad interpretation. But that is what it is at the moment.
After the recent widely reports insider trading case. I read the...
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