"Joel M. Cohen, a partner at the law firm Gibson, Dunn & Crutcher, recently wrote that there had been a “shift in insider-trading jurisprudence away from its roots in deterring and punishing those who abuse special relationships at the expense of shareholders and into a murkier area where the S.E.C. is policing general financial unfairness that has traditionally been considered beyond its authority to regulate.”The perfect analogy for what is taking place in the government's ever expanding mission creep to make the world safe from "everything:...
In other words, the S.E.C. is no longer just making sure that employees are not abusing their position and breaching their fiduciary duty; it is focused on making sure the markets “feel” fair.
Tuesday, October 26, 2010
So What Is Insider Trading?: