The SEC, Administrative Usurpation, and Insider Trading
A.C. Pritchard, Stanford Law Review & The Stanford Law Review
Abstract
The history of insider trading law is a tale of administrative usurpation and legislative acquiescence. Congress has never enacted a prohibition against insider trading, much less defined it. Instead, the SEC has led in defining insider trading, albeit without the formality of rulemaking, and subject to varying degrees of oversight by the courts. The reason […]