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Inside information and insider trading

Subject and Keywords:

insider dealing   inside information   securities trading   capital market   Market Abuse Regulation MAR   investor protection in the financial market


EU law acts often have a built-in element of the so-called self-control, consisting in verification of the effectiveness of regulation after a specified period of time from the entry into force of a legal act. In the year 2019, the Market Abuse Regulation MAR, which in 2016 introduced new regulations concerning confidential information and trade related to internal information, causing a revolution in the capital market, will be reviewed. Numerous new duties were imposed on market participants, among others in the field of transaction reporting, access to confidential information, the circle of persons having access to confidential information. Due to the above, the article discusses the regulations of confidential information and related obligations imposed on market participants, based on the current achievements of the doctrine and judicatory. These considerations have been confronted with the undesirable element of having confidential information, i.e. insider trading. Often, an entity that has access to specific confidential information uses it in an unlawful manner to achieve its own profit. This causes inequalities in access to market information and leads to distortions in the transparency of financial markets. The article also included a polemic on the morality of insider dealing.

Place of publishing:



Wydawnictwo Uniwersytetu Wrocławskiego

Date issued:


Date copyrighted:



ISSN 1733-5779   ISSN 0239-6661




PAd 102060 II


eng   pol


Studenckie Prace Prawnicze, Administratywistyczne i Ekonomiczne, ISSN 1733-5779. Nr 29 (2019), s. 119-134

Is version of:

Czasopisma Naukowe w Sieci (CNS)

Rights holder:

Copyright by Wydawnictwo Uniwersytetu Wrocławskiego Sp. z o.o.

Autor opisu:

WR U/PAdbg