초록 열기/닫기 버튼
In general, information has greatly contributed to the economic development in our society. However, since the trades of securities in the securities market seriously depend on information that investors may have, information in the securities market has most important role for the investors. Therefore, because unequal of information between investors who trades securities may cause to lack of confidence to the securities market itself, all investors in the securities market must get equal opportunities to invest with same information.In order to secure the equal opportunity to invest with same information, every countries, including Korea, has the securities regulation that prescribes the insider trading, which is strictly forbidden. In the United States, the SEC (Securities and exchange Commission) or the Congress does not produce the concept of the insider trading through the laws and regulations. Instead the regulation of the insider trading in the federal level has developed through the section 10(b) of the Securities Exchange Act of 1934 and the judicial precedents, which are strongly related to the SEC Rule 10b-5.This Article examines the judicial background of the regulation for the insider trading. Moreover, the Article analyze the recent enactment of the SEC Rule 10b5-1 and Rule 10b5-2. Finally, the Article finds the opportunity to consider the scheme for the development of the Korean Securities Exchange Act.
키워드열기/닫기 버튼
Inside Trading, Outsider Trading, Securities Act of 1933, Securities Exchange Act of 1934, Securities and Exchange Commission, Fiduciary Duties of Confidentiality
