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Article
New Perspective on Market Abuse: Outsider Trading as an Outlawed Conduct
Italian Legal Scholarship Unbound Working Paper Series (2008)
  • Jacopo Busnach Ravenna
Abstract

The following paper illustrates how the Market Abuse Directive 2003/6/EC has backed up previous legislation by contemplating a new form of outlawed behaviour which an outsider may carry out by exploiting her informative advantage. After a general analysis of the features of such conduct, relevant for both criminal and administrative law, its main characteristics are underlined in a comparative perspective with US law. A schematic outline of the most critical analyses on outsider trading regulation is also carried out. The paper eventually deals with two controversial applications of the rules under Italian decree 58/1998, recently modified.

Note: downloadable document is in Italian.

Keywords
  • Outsider trading,
  • Directive 2003/6/EC
Disciplines
Publication Date
2008
Citation Information
Jacopo Busnach Ravenna, New Perspective on Market Abuse: Outsider Trading as an Outlawed Conduct, ILSU Working Paper No. 2008-04/IT (2008), available at http://works.bepress.com/ilsu_working_paper_series/3