Market Transactions and the Case of Insider Dealing: Drawing the Line Between Legal and Illegal Behaviour

Research output: Chapter in Book/Report/Conference proceeding › Book chapter › Research › peer-review

Standard

Market Transactions and the Case of Insider Dealing : Drawing the Line Between Legal and Illegal Behaviour. / Hansen, Jesper Lau.

Regulating EU Capital Markets Union: Fundamentals of a European Code. ed. / Rüdiger Veil. Vol. I London : Oxford University Press, 2024. p. 154-169.

Research output: Chapter in Book/Report/Conference proceeding › Book chapter › Research › peer-review

Harvard

Hansen, JL 2024, Market Transactions and the Case of Insider Dealing: Drawing the Line Between Legal and Illegal Behaviour. in R Veil (ed.), Regulating EU Capital Markets Union: Fundamentals of a European Code. vol. I, Oxford University Press, London, pp. 154-169. https://doi.org/10.1093/oso/9780192882660.003.0008

APA

Hansen, J. L. (2024). Market Transactions and the Case of Insider Dealing: Drawing the Line Between Legal and Illegal Behaviour. In R. Veil (Ed.), Regulating EU Capital Markets Union: Fundamentals of a European Code (Vol. I, pp. 154-169). Oxford University Press. https://doi.org/10.1093/oso/9780192882660.003.0008

Vancouver

Hansen JL. Market Transactions and the Case of Insider Dealing: Drawing the Line Between Legal and Illegal Behaviour. In Veil R, editor, Regulating EU Capital Markets Union: Fundamentals of a European Code. Vol. I. London: Oxford University Press. 2024. p. 154-169 https://doi.org/10.1093/oso/9780192882660.003.0008

Author

Hansen, Jesper Lau. / Market Transactions and the Case of Insider Dealing : Drawing the Line Between Legal and Illegal Behaviour. Regulating EU Capital Markets Union: Fundamentals of a European Code. editor / Rüdiger Veil. Vol. I London : Oxford University Press, 2024. pp. 154-169

Bibtex

@inbook{c75f6f9753a64b1db988241c856162c4,
title = "Market Transactions and the Case of Insider Dealing: Drawing the Line Between Legal and Illegal Behaviour",
abstract = "The chapter explores the boundaries between legal and illegal behaviour in respect of insider dealing by examining the fundamentals of market transactions in order to establish the purpose of the ban. After observing the nature of voluntary transactions and, notably, George Akerlof{\textquoteright}s Lemon Theory, the ban is placed within a theoretical framework where the Trinity of Information Regulation prevents the detrimental effects of information asymmetries and is balanced with the need to preserve competition among market participants, which is achieved by calibrating the notion of {\textquoteleft}inside information{\textquoteright}. This leads to the conclusion that the ban is not about possession of inside information, but its abuse. The ban as articulated in Article 8 of MAR is examined as is the supplementary nature of Article 9. The chapter finishes by discussing the critique of the ban by Henry Manne et al and the need for reform in the proposed Listing Act package.",
keywords = "Faculty of Law, EU-b{\o}rsret, B{\o}rsret, Insiderhandel",
author = "Hansen, {Jesper Lau}",
year = "2024",
doi = "10.1093/oso/9780192882660.003.0008",
language = "English",
isbn = "9780192882660",
volume = "I",
pages = "154--169",
editor = "R{\"u}diger Veil",
booktitle = "Regulating EU Capital Markets Union",
publisher = "Oxford University Press",
address = "United Kingdom",

}

RIS

TY - CHAP

T1 - Market Transactions and the Case of Insider Dealing

T2 - Drawing the Line Between Legal and Illegal Behaviour

AU - Hansen, Jesper Lau

PY - 2024

Y1 - 2024

N2 - The chapter explores the boundaries between legal and illegal behaviour in respect of insider dealing by examining the fundamentals of market transactions in order to establish the purpose of the ban. After observing the nature of voluntary transactions and, notably, George Akerlof’s Lemon Theory, the ban is placed within a theoretical framework where the Trinity of Information Regulation prevents the detrimental effects of information asymmetries and is balanced with the need to preserve competition among market participants, which is achieved by calibrating the notion of ‘inside information’. This leads to the conclusion that the ban is not about possession of inside information, but its abuse. The ban as articulated in Article 8 of MAR is examined as is the supplementary nature of Article 9. The chapter finishes by discussing the critique of the ban by Henry Manne et al and the need for reform in the proposed Listing Act package.

AB - The chapter explores the boundaries between legal and illegal behaviour in respect of insider dealing by examining the fundamentals of market transactions in order to establish the purpose of the ban. After observing the nature of voluntary transactions and, notably, George Akerlof’s Lemon Theory, the ban is placed within a theoretical framework where the Trinity of Information Regulation prevents the detrimental effects of information asymmetries and is balanced with the need to preserve competition among market participants, which is achieved by calibrating the notion of ‘inside information’. This leads to the conclusion that the ban is not about possession of inside information, but its abuse. The ban as articulated in Article 8 of MAR is examined as is the supplementary nature of Article 9. The chapter finishes by discussing the critique of the ban by Henry Manne et al and the need for reform in the proposed Listing Act package.

KW - Faculty of Law

KW - EU-børsret

KW - Børsret

KW - Insiderhandel

U2 - 10.1093/oso/9780192882660.003.0008

DO - 10.1093/oso/9780192882660.003.0008

M3 - Book chapter

SN - 9780192882660

VL - I

SP - 154

EP - 169

BT - Regulating EU Capital Markets Union

A2 - Veil, Rüdiger

PB - Oxford University Press

CY - London

ER -

ID: 385894420