Abstract
Corporations are legal persons caught by Australian insider trading laws. As a criminal offence, insider trading does not occur without a fault element or ‘mens rea’ on the part of the alleged offender. Where the alleged offender is a corporation, how is the fault element for insider trading to be proved? The insider trading offence requires specific knowledge — knowledge that the inside information possessed is not generally available, and knowledge that the inside information is likely to be price-sensitive. How can a corporation been shown to have such knowledge? These issues have never been explicitly tested judicially, but will be considered in detail in this article.
Original language | English |
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Pages (from-to) | 266-281 |
Number of pages | 16 |
Journal | Australian Journal of Corporate Law |
Volume | 24 |
Issue number | 3 |
Publication status | Published - Jul 2010 |
Externally published | Yes |
Keywords
- insider trading
- corporate liability
- mens rea
- corporations law