"MENS REA" IN INSIDER TRADING – A "SINE QUA NON"?

Published On: 01/06/2015

Practice Area: Mergers & Acquisitions

Authors:

There is no uniform or consistent definition of an 'insider' among the securities regulatory authorities of the world's major financial economies. An insider (in context of insider trading in securities) is anyone who has privileged access to material price sensitive non-public information of the company due to some special relationship, and could be the director, corporate executive, lawyer, banker, accountant or a major shareholder.