Illegal insider trading[edit] Rules against insider trading on...

Illegal insider trading[edit]

Rules against insider trading on material non-public information exist in most jurisdictions around the world (Bhattacharya and Daouk, 2002), but the details and the efforts to enforce them vary considerably. In the United States, Sections 16(b) and 10(b) of the Securities Exchange Act of 1934 directly and indirectly address insider trading. Congress enacted this act after the stock market crash of 1929.^[3] The United States is generally viewed as having the strictest laws against illegal insider trading, and makes the most serious efforts to enforce them.^[4] In the United Kingdom, the Financial Services and Markets Act, 2000 gives the UK's Financial Conduct Authority the responsibility to investigate and prosecute insider dealing, defined by The Criminal Justice Act 1993.