America's Dirty Secrets and History behind Wall Street
Insider trading is when an insider uses company's information not yet public for making trades.
This white collar crime has blackened some of the biggest names of the financial world and brought down biggest of institutions, causing huge losses to economies and public savings. This book explains insider trading; its effects and the evolution of laws and regulatory institutions around it.
Rockwell provides a unique understanding of insider trading from a trader, an investor and a regulators' perspective. 'Greed in the end fails even the greedy'- Cathryn Louis. The biggest of names have come down because of insider trading, yet more and more cases of insider trading are coming to light. Laws around insider trading have been strengthened, yet people are still encouraged to perform this crime due to the large scale of money and profits involved. The crimes around it have gotten bigger and wider over time. Thus, an understanding of insider trading becomes critical for all traders, financiers, investors and students.
Given this, the authors' compilation is a great read. The research is comprehensive and draws a unique and interesting parallel between insider trading cases and the regulation around it. The book also discusses the interesting debate on whether insider trading must be made legal. The book simplifies this complex topic and makes it interesting with examples from real life cases. After reading the book, you would have known about the following:-
- What is insider trading?
- Effects of insider trading.
- US insider trading laws
- Form 4
- Rule 10b5
- Rule 10b5-1
- Misappropriation Theory
- Rule 14e 3
- Sarbanes Oxley Act 2002
- Landmark cases
- Should insider trading be made legal?
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