Insider Trading Law and Compliance Answer Book is an easy-to-use guide to the reach of the insider trading laws, the specifics that must be proved in court, the available defenses, the penalties, the current approaches taken by the SEC and the Department of Justice to insider trading violations, and the best compliance policies and procedures for firms to enact to minimize the chances of a violation.

More than two dozen experts at Schulte Roth & Zabel LLP share their knowledge in clear and succinct question-and-answer format. Updated with the latest key court decisions, the book provides timely and practical information for investors, corporate insiders, professional traders, investment advisers, broker-dealers, and other participants in the securities industry, as well as insights and analysis for the lawyers who advise and represent them.

Some highlights of the 2019 Edition:

• New chapter: Insider Trading Law and Commodity Interests. Recent rulemaking and high-profile CFTC enforcement actions have made it clear that market participants and their counsel must be familiar with insider trading law as it applies to the commodity futures and derivatives markets. This new chapter explains the prohibitions on insider trading in the commodity futures market, compares the statutory provisions of the Commodity Exchange Act and the Securities Exchange Act, compares CFTC Rule 180.1 and the SEC Rule 10b-5, and discusses two recent “plant-the-flag” enforcement actions.
• Are cryptocurrencies securities? In answering that question, the SEC signaled it will apply the “investment contract” test from Howey. Under that test, cryptocurrencies themselves might not be securities, but ICOs or other products sold to investors using cryptocurrencies as the underlying asset would be.
• Nonpublic information and the Internet. See chapter 7 for new discussion of whether an issuer’s website can be a “recognized channel of distribution” for disclosures and whether information disclosed via social media is considered public.

This answer book is available on PLI PLUS, our research database. If you’d like to order a print copy, please email libraryrelations@pli.edu or call 877.900.5291.