Matches in SemOpenAlex for { <https://semopenalex.org/work/W1520298034> ?p ?o ?g. }
Showing items 1 to 69 of
69
with 100 items per page.
- W1520298034 abstract "This article refutes what has become the conventional wisdom that insider trading by members of Congress and legislative staffers is “totally legal” because such congressional officials are immune from federal insider trading law. It argues that this well-worn claim is rooted in twin misconceptions based on: (1) a lack of regard for the broad and sweeping duties of entrustment which attach to public office and (2) an unduly restrictive view of Supreme Court precedents, which have interpreted Rule 10b-5 of the Securities Exchange Act to impose liability whenever a person trades securities on the basis of material nonpublic information in violation of a fiduciary-like duty owed either to the issuer’s shareholders or to the source of the information. It also argues that nonpublic congressional information constitutes property which, like congressional funds and tangible property, rightfully belongs to the federal government and its citizens. The article was first presented at a conference honoring the publication of Boston University Professor Tamar Frankel’s new book on Fiduciary Law. Drawing from Professor Frankel’s extensive work, and from the prior application of fiduciary principles in congressional disciplinary actions and Executive Branch prosecutions of members of Congress for so-called honest-services fraud, the article maintains that congressional officials owe duties of trust and confidence to a host of persons including the citizen-investors they serve, as well as the federal government, other members of Congress, and government officials outside of Congress who rely on their loyalty and integrity. These persons are deceived and defrauded when congressional officials misappropriate nonpublic congressional knowledge to enhance the profit in their personal investment portfolios. The article concludes that Rule 10b-5 prohibits members of Congress and legislative staffers from trading securities on the basis of material nonpublic information obtained through congressional service, but for a variety of prudential reasons, it suggests that education, rather than prosecution, may be the SEC’s most effective enforcement tool." @default.
- W1520298034 created "2016-06-24" @default.
- W1520298034 creator A5086720823 @default.
- W1520298034 date "2011-01-29" @default.
- W1520298034 modified "2023-10-03" @default.
- W1520298034 title "Insider Trading, Congressional Officials, and Duties of Entrustment" @default.
- W1520298034 hasPublicationYear "2011" @default.
- W1520298034 type Work @default.
- W1520298034 sameAs 1520298034 @default.
- W1520298034 citedByCount "0" @default.
- W1520298034 crossrefType "posted-content" @default.
- W1520298034 hasAuthorship W1520298034A5086720823 @default.
- W1520298034 hasConcept C10138342 @default.
- W1520298034 hasConcept C120757647 @default.
- W1520298034 hasConcept C138885662 @default.
- W1520298034 hasConcept C144133560 @default.
- W1520298034 hasConcept C17744445 @default.
- W1520298034 hasConcept C199539241 @default.
- W1520298034 hasConcept C2776697845 @default.
- W1520298034 hasConcept C2776801101 @default.
- W1520298034 hasConcept C2778137410 @default.
- W1520298034 hasConcept C2778272461 @default.
- W1520298034 hasConcept C2778971194 @default.
- W1520298034 hasConcept C2779103253 @default.
- W1520298034 hasConcept C2780597233 @default.
- W1520298034 hasConcept C2781078320 @default.
- W1520298034 hasConcept C39389867 @default.
- W1520298034 hasConcept C41895202 @default.
- W1520298034 hasConceptScore W1520298034C10138342 @default.
- W1520298034 hasConceptScore W1520298034C120757647 @default.
- W1520298034 hasConceptScore W1520298034C138885662 @default.
- W1520298034 hasConceptScore W1520298034C144133560 @default.
- W1520298034 hasConceptScore W1520298034C17744445 @default.
- W1520298034 hasConceptScore W1520298034C199539241 @default.
- W1520298034 hasConceptScore W1520298034C2776697845 @default.
- W1520298034 hasConceptScore W1520298034C2776801101 @default.
- W1520298034 hasConceptScore W1520298034C2778137410 @default.
- W1520298034 hasConceptScore W1520298034C2778272461 @default.
- W1520298034 hasConceptScore W1520298034C2778971194 @default.
- W1520298034 hasConceptScore W1520298034C2779103253 @default.
- W1520298034 hasConceptScore W1520298034C2780597233 @default.
- W1520298034 hasConceptScore W1520298034C2781078320 @default.
- W1520298034 hasConceptScore W1520298034C39389867 @default.
- W1520298034 hasConceptScore W1520298034C41895202 @default.
- W1520298034 hasOpenAccess W1520298034 @default.
- W1520298034 hasRelatedWork W125186679 @default.
- W1520298034 hasRelatedWork W1511759081 @default.
- W1520298034 hasRelatedWork W1516383394 @default.
- W1520298034 hasRelatedWork W1532180161 @default.
- W1520298034 hasRelatedWork W1554305833 @default.
- W1520298034 hasRelatedWork W1837769798 @default.
- W1520298034 hasRelatedWork W2220161284 @default.
- W1520298034 hasRelatedWork W2263668995 @default.
- W1520298034 hasRelatedWork W2265304938 @default.
- W1520298034 hasRelatedWork W298304449 @default.
- W1520298034 hasRelatedWork W3020145848 @default.
- W1520298034 hasRelatedWork W3041352461 @default.
- W1520298034 hasRelatedWork W3121333029 @default.
- W1520298034 hasRelatedWork W3122676050 @default.
- W1520298034 hasRelatedWork W3123799687 @default.
- W1520298034 hasRelatedWork W3124518575 @default.
- W1520298034 hasRelatedWork W3124786449 @default.
- W1520298034 hasRelatedWork W3126060456 @default.
- W1520298034 hasRelatedWork W3149182981 @default.
- W1520298034 hasRelatedWork W3122766794 @default.
- W1520298034 isParatext "false" @default.
- W1520298034 isRetracted "false" @default.
- W1520298034 magId "1520298034" @default.
- W1520298034 workType "article" @default.