The detection and prosecution of insider trading has always been one of the most high-profile and important missions of the U.S. Securities and Exchange Commission. Traditionally, its enforcement of the prohibition on insider trading has been overwhelmingly directed at domestic actors who had allegedly breached a legal duty.

That focus changed for the first time in the landmark cases SEC v. Banca Della Svizzera Italiana et al. [FOOTNOTE 1] and SEC v. Certain Unknown Purchasers of the Common Stock, and Call Options for the Common Stock of Santa Fe Int’l Corporation, et al.,[FOOTNOTE 2] where the SEC obtained interim, emergency relief against “unknown purchasers” of securities even though the initial pleadings failed to fully articulate the insider trading theory.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]