Faculty

Prof. Scott Colesanti Publishes Article in NYLJ on Congressional Insider Trading Statutes

J. Scott Colesanti, Professor of Legal Writing

Analysis
The Short Arm of Congressional Insider Trading Statutes
Fans of market “fairness” at any intellectual cost can rejoice that a difficult hodgepodge of statutes, regulations, and common law wizardry can be expediently cobbled together to charge those who appear to flaunt their privileged status.
By J. Scott Colesanti
New York Law Journal
Aug. 24, 2018

Excerpt:
Fans of market “fairness” at any intellectual cost can rejoice that a difficult hodgepodge of statutes, regulations, and common law wizardry can be expediently cobbled together to charge those who appear to flaunt their privileged status. Yet, if the Collins allegations are true, Congress failed to reach by statute insider trading by one of their own transpiring but two miles down Pennsylvania Avenue. It was the Fourth Circuit that observed in 1995 that we were all becoming “pawns” in a strategy known only to the commission. To be sure, the government attorneys — having elevated the contest to criminal proceeding — shall likely have their hands full bringing that strategy to fruition should these cases proceed to trial.

A former regulator, Professor Colesanti has taught securities regulation at the Hofstra University Maurice A. Deane School of Law since 2002.  His 2018 book “Fairness, Inc.” traces the history of the modern insider trading prohibition.

Read the full article at law.com.

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