Attorneys React To 2nd Circ.’s Insider Trading Ruling

Présentation


Eugene Goldman, from his perspective as former senior counsel in the SEC’s Division of Enforcement, said that because the Second Circuit, with a jurisdiction “within which lies Wall Street,” reversed two insider trading convictions, the decision “could stop multiple insider trading cases in their tracks and … burden the government with the difficulty of showing that a remote tippee was aware that the tipper shared the information for their personal gain.” Mr. Goldman also noted that the standards of proof that the court “imposed to prove a violation may also apply to SEC enforcement cases.”