Abstract
Section 16 of the Securities Exchange Act of 1934, enacted to combat insider trading, requires insiders to report their trades and to disgorge profits realized from trades on a security that occur within a six-month period. This Article concludes that disgorgement is ineffective at preventing illegal insider trading and should be repealed, but concludes that the reporting obligations should be strengthened to require insiders to file reports concurrent with their trades. This will permit securities prices to react more quickly and will assist the SEC in detecting illegal trading.
How to Cite
39 Ariz. L. Rev. 1315 (1997)
3
Views
1
Downloads