Will a Federal Law Against Insider Trading Finally Become Reality?
On May 18, the U.S. House of Representatives passed legislation, which, for the first time in history, would explicitly outlaw insider trading in the United States. It is unclear whether the Senate will act to pass this law, which would require bipartisan support. But if so, it would represent a dramatic change for how the government prosecutes insider trading—and a likely increase in enforcement. David Axelrod, leader of the firm’s Securities Enforcement and Corporate Governance Litigation Group, and Hannah Welsh, an attorney in the Group, authored a commentary piece on the legislation for The Legal Intelligencer.
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