The SEC generally refers to illegal insider trading as “the act of buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security.”1 Intuitively, many people feel insider trading is an unfair abuse of information asymmetries that allows …
Continue reading “Insider Trading Regulation of Derivatives under SEC Rule 10(b)-5 and Dodd Frank”
On July 18, 2013, the city of Detroit, Michigan declared bankruptcy.1 The city’s debt stood at $18.5 billion, more than four times greater than any other municipal bankruptcy since the modern bankruptcy code was adopted by congress.2 Despite the magnitude of the economic and social impacts of municipal bankruptcy, the topic is not diffusively understood. …
Continue reading “Detroit Bankruptcy: Lessons Going Forward”
On July 18, 2013, the city of Detroit, Michigan declared bankruptcy.1 The city’s debt stood at $18.5 billion, more than four times greater than any other municipal bankruptcy since the modern bankruptcy code was adopted by congress.2 Despite the magnitude of the economic and social impacts of municipal bankruptcy, the topic is not diffusively understood. …