US insider trading v EU insider dealing: a difference more than in name

US insider trading v EU insider dealing: a difference more than in name

JIBFL Cover AprilCarlos Conceicao, a contentious regulatory partner at Clifford Chance in London, Polly Snyder, counsel in Clifford Chance’s Litigation and Dispute Resolution group in Washington and Chris Stotta senior associate in Clifford Chance’s Litigation and Dispute Resolution group in London look at insider dealing in US and the EU.

One of the key points mentioned in the article is that –in the US, for a remote tippee to be liable, he must know that the insider who disclosed confidential information to the first tippee received a personal benefit for doing so. ––

In contrast, neither EU law nor any of the provisions of the national laws of Member States implementing it require a breach of duty. It is enough that the person concerned has dealt on the basis of material non-public information.

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About the author:

Neeta started her legal career at Allen & Overy in 2008 in the midst of the global financial crisis and the collapse of Lehmans where she gained most of her paralegal experience.

Neeta also did a short stint in litigation at the Revenue and Customs Prosecutions Office in 2006. Neeta graduated with a 2:1 honours degree from University of London, Queen Mary College and went on to obtain a distinction from the College of Law in the Legal Practice. She has been working at Lexis Nexis since April 2013.