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Judge Calls on Congress to Pass Insider Trading Law
New York Law Journal, October 23, 2015
Judge Calls on Congress to Pass Insider Trading Law
A Southern District judge has called on Congress to pass an insider trading law. Southern District Judge Paul Engelmayer, in an address to the Securities and Litigation Enforcement Institute of the New York City Bar, pointed out that unlike virtually every other country with a securities exchange, the United States does not have a statute that defines insider trading. He noted that the development of the insider trading law instead has been left to the federal courts.
