Insider trading in developing jurisdictions: achieving an effective regulatory regime
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
London
Routledge
2014
|
| Ausgabe: | 1. issued in paperback |
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis Klappentext |
| Beschreibung: | XXIII, 307 S. |
| ISBN: | 1138016845 9780415521352 9781138016842 |
Internformat
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Datensatz im Suchindex
| _version_ | 1804152020779663360 |
|---|---|
| adam_text | Contents
Preface
xi
Table of cases
xiii
Table of statutes
xxii
Table of statutory instruments
xxiv
European Economic Community Directives
xxv
Rules and directives of regulators
xxvi
1
Introduction
1
1.1
Aims
6
1.2
Methodology
7
1
. З
Outline of the book
8
2
Insider dealing: the crime
ofinformation
10
2.
1 Introduction
10
2.2
Historical background
11
2.3
Theoretical basis of insider s liability
15
2.3.1
Legal theories
15
2.3.2
Efficiency theories: the hobble, bubble and tumble
22
2.4
The regulation debate
33
2.4.1
Arguments against regulation
33
2.4.2
Arguments in favour of regulation
38
2.5
Conclusion
43
3
Fighting a common enemy: Anglo-American and
Japanese attitudes on insider dealing
45
3-1
Introduction
45
3-2
Comparative analysis of regulatory regimes
46
3.2.1
Regulatory mode
46
3-2.2
Prohibited information
49
3.2.3
The insider
54
viii
Contento
3.2.4
Prohibited
conduct
60
3.2.5
Affectée/
securities
63
3.2.6
Intention
66
3.2.1
Regulatory authorities
69
3.2.8
Remedies
72
3.3
Hasit
worked?
80
3.4
Conclusion
87
4
I
1.1.цѕ
<>ł
confusion:
tlu-
limitations
.nul
frustrations
of imitation
88
4.1
Introduction
88
4.2
Background
SS
4.3
The prohibition
92
4.3
Λ
Who is an insider?
94
4.3.2
What is inside
informât
ion? 1<
4.3.3
What an insider is prohibited from doing 11
6
4.3.4
What are the affected r« unties?
121
4.3.3
Knowledge
122
4.3.6
The exempt
κ»ι
124
4.3.7
Penalties
129
4.4
Enforcement
1.12
4.5
Conclusion
141
5
A critical expedition into the Kingdom of Nigeria s
insider dealers
142
5.1
Introduction and background
142
5.1.1
Reason for the study
142
5.1.2
Methodology
143
5.1.3
Ethics
144
5.1.4
The subjects
144
5.1.5
А попу
mizat
ion
145
5.1.6
Empirical evidence
146
5.2
Introduction to insider dealing in Nigeria
148
5.2.1
Understanding by relevant parties
148
5.2.2
Patterns of misunderstanding
152
5.2.3
Reasons for lack of understanding
158
5.2.4
Effects of lack of understanding
159
5.3
Profile of the Nigerian insider dealer
160
5.3.1
Does it exist
?
I6O
5.3.2
The Nigerian insiders
162
Contents ix
5.4
The antics and tactics of the Nigerian insider dealer
185
5.4.1
Types of insider dealing in Nigeria
186
5.4.2
Effects of insiders activities
202
5.5
Conclusion
205
6
Fixing the leaking roof of Nigeria s insider
dealing regulation
207
6.1
Introduction
207
6.2
Insiders pre-emption
208
6.2.1
Restrictions on insiders holding
208
6.2.2
Short-swing and freeze rule
214
6.3
Private right of action
211
6.3-1
Action by the company
218
6.3.2
Corporate derivative action
222
6.3.3
Personal action
228
6.3.4
Representative action
230
6.4
Civil remedies
233
6.4.1
Fiduciary duties
233
6.4.2
Breach of confidence
243
6.4.3
Misrepresentation
248
6.4-4
Breach of statutory duty
258
6.5
Other factors
261
6.5.1
Administrative procedure
261
6.5.2
Disclosure
262
6.5.3
Investigations
262
6.5.4
Investment frauds insurance
263
6.6
Conclusion
263
7
Conclusion
265
7
Λ
The future of regulation
268
В
ibliography
27
A
Appendix: pertinent sections of the Investments and
Securities Act
2007
(ISA)
293
Index
299
Insider
Trading
in
Developing
Jurisdictions
The book examines the
régulation
or insider dealing in the developed jurisdic¬
tions, using three or the G7 countries as guides with the aim of knowing how
they have regulated insider trading and what lessons can be learnt from their
failures and achievements,
h
looks at regulatory regimes in the United States,
the United Kingdom and Japan in order to consider whether these regimes
can be successfully transplanted to developing countries.
In order to explore insider dealing in the developing world the book focuses
on Nigeria, Africa s most populous nation and second largest economy. This
book examines in theoretical and empirical terms the law on insider trading
away from the dogmatic approach or Western literature by presenting the
subject from the prism or a developing jurisdiction in post-colonial Africa
with a divergent cultural, historical, social, political and economic back¬
ground. The author analyses what shape insider dealing takes in Nigeria, a
predominantly illiterate society, and considers the groups involved. The book
also explores how the concept of insider dealing regulation is understood
amongst parties integral to its administration and enforcement such as
lawyers, judges, stockbrokers and ordinary investors. The legislation governing
insider dealing regulation in Nigeria is critically examined to expose its
strengths and weaknesses, and to see how foreign provisions and legislation
have been incorporated. The book uses Nigerian experiences to consider its
implications for other developing nations, arguing that regulatory regimes
need to take into account the specific social, political, historical and economic
factors of a particular locale rather than importing regulations wholesale from
developed jurisdictions. This book will be of particular interest to academics
and students of business and finance law as well as criminal law.
Wunmi Bewaji holds a PhD in Law from the University of Leeds, United
Kingdom, and specializes in Securities and Financial Regulations Law.
Dr
Bewaji
is a barrister and solicitor of the Supreme Court of Nigeria and was a member of
the Federal House of Representatives of the Nigerian National Assembly for
eight years, half of which was spent serving as a Minority Leader.
|
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| author_facet | Bewaji, Wunmi |
| author_role | aut |
| author_sort | Bewaji, Wunmi |
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| building | Verbundindex |
| bvnumber | BV041735223 |
| classification_rvk | PE 620 |
| ctrlnum | (OCoLC)861212582 (DE-599)BVBBV041735223 |
| discipline | Rechtswissenschaft |
| edition | 1. issued in paperback |
| format | Book |
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| id | DE-604.BV041735223 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T01:04:05Z |
| institution | BVB |
| isbn | 1138016845 9780415521352 9781138016842 |
| language | English |
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| spelling | Bewaji, Wunmi Verfasser aut Insider trading in developing jurisdictions achieving an effective regulatory regime Wunmi Bewaji 1. issued in paperback London Routledge 2014 XXIII, 307 S. txt rdacontent n rdamedia nc rdacarrier Wertpapierhandel (DE-588)4189707-9 gnd rswk-swf Insidergeschäft (DE-588)4114025-4 gnd rswk-swf Recht (DE-588)4048737-4 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 gnd rswk-swf Nigeria (DE-588)4042300-1 gnd rswk-swf Entwicklungsländer (DE-588)4014954-7 g Insidergeschäft (DE-588)4114025-4 s Wertpapierhandel (DE-588)4189707-9 s Recht (DE-588)4048737-4 s DE-604 Nigeria (DE-588)4042300-1 g Erscheint auch als Online-Ausgabe 978-0-203-11549-7 Digitalisierung UB Bayreuth - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027181931&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis Digitalisierung UB Bayreuth - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027181931&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA Klappentext |
| spellingShingle | Bewaji, Wunmi Insider trading in developing jurisdictions achieving an effective regulatory regime Wertpapierhandel (DE-588)4189707-9 gnd Insidergeschäft (DE-588)4114025-4 gnd Recht (DE-588)4048737-4 gnd |
| subject_GND | (DE-588)4189707-9 (DE-588)4114025-4 (DE-588)4048737-4 (DE-588)4014954-7 (DE-588)4042300-1 |
| title | Insider trading in developing jurisdictions achieving an effective regulatory regime |
| title_auth | Insider trading in developing jurisdictions achieving an effective regulatory regime |
| title_exact_search | Insider trading in developing jurisdictions achieving an effective regulatory regime |
| title_full | Insider trading in developing jurisdictions achieving an effective regulatory regime Wunmi Bewaji |
| title_fullStr | Insider trading in developing jurisdictions achieving an effective regulatory regime Wunmi Bewaji |
| title_full_unstemmed | Insider trading in developing jurisdictions achieving an effective regulatory regime Wunmi Bewaji |
| title_short | Insider trading in developing jurisdictions |
| title_sort | insider trading in developing jurisdictions achieving an effective regulatory regime |
| title_sub | achieving an effective regulatory regime |
| topic | Wertpapierhandel (DE-588)4189707-9 gnd Insidergeschäft (DE-588)4114025-4 gnd Recht (DE-588)4048737-4 gnd |
| topic_facet | Wertpapierhandel Insidergeschäft Recht Entwicklungsländer Nigeria |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027181931&sequence=000003&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027181931&sequence=000004&line_number=0002&func_code=DB_RECORDS&service_type=MEDIA |
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