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Michael Rosensaft Quoted in Global Association of Risk Professionals Article on New Insider Trading Bill

Firm News | April 23, 2015

Litigation and Dispute Resolution partner Michael Rosensaft is quoted in this article on the Insider Trading Prohibition Act, a bipartisan bill recently introduced to Congress designed to clarify any ambiguity about the definition of insider trading. With a narrow legal definition of insider trading, prosecutors and regulators currently must contend with a higher burden of proof. "Prosecutors have to clearly establish quantifiable proof of personal benefit gained by the insider who tipped the information," said Michael. "The Department of Justice and SEC will have to rely more on scouring financial statements, and analyzing career trajectories and promotions where a career is materially advanced as a result of an insider tip." ("Searching for an Insider Trading Panacea," April 17, 2015)

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