This paper examines insider trading, one form of white collar crime that has received virtually no attention from criminology. The development of laws and administrative policies designed to deter insider trading in the U.S. is chronicled and categorized as five distinct regulatory periods. This paper assesses the rationale of these policies, identifies the persons at whom they are aimed, and evaluates their overall success. A distinction between offender decision making by “inside-insiders” and “outside-insiders” is utilized to show the displacement effect of these anti-insider policies. Based on empirical evidence that existing efforts have failed to stop insider trading a recommendation is made for greater research attention to insider trading and reconsideration of existing SEC regulations.