Purpose – To alert broker-dealers to Securities and Exchange Commission charges brought against a broker-dealer for ineffective controls over employee use of confidential information and to provide guidance regarding development and implementation of controls to protect against improper use of...

Purpose To explain the import of a recent enforcement action by the US Securities and Exchange Commission (SEC) against an investment adviser for failing to prevent insider trading against the context of an unsettled legal definition of “insider trading” as evidenced by the issue presented...

Purpose To alert participants in the commodities markets to an important development in the exercise of enforcement authority by the Commodity Futures Trading Commission. Design/methodology/approach Explains a recent proceeding which resulted in the CFTC’s first-ever application of a...

Purpose – The purpose of the paper is to discuss the SEC's increased willingness to pursue insider trading enforcement actions related to transactions that take place largely outside the USA. Design/methodology/approach – The paper describes several recent insider trading enforcement actions...

Purpose – The purpose of this paper is to examine whether insider trading surrounding a first‐time going concern audit opinion is associated with a firm's future bankruptcy status. Design/methodology/approach – Hypotheses are developed predicting that insiders of firms receiving going...

Purpose – This purpose of this paper is to investigate the determinants of board and audit committee meeting frequency. Design/methodology/approach – The determinants studied are related to the ownership structure and to the board characteristics. The study is conducted in an agency setting...

Purpose – Due to insufficient disclosure on open market share repurchases in the USA, at any given point in time, outside shareholders have no knowledge of whether their firm is executing open market share repurchase trades. It is hypothesized that such information disparity between outside...

When agents first become active investors in financial markets, they are relatively inexperienced. Much of the literature focuses on the incentives of presumably sophisticated informed agents to produce information, and not on the nave agents. However, unsophisticated agents are important...

Purpose – The purpose of this paper is to investigate the impact of insider trading on subsequent stock returns in the UK, with a specific focus on the impact of the global financial crisis of 2007-2008 on the relation between CEO and CFO stock purchases and returns....