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Insider Trading Law and Compliance Answer Book (2017 Edition)

Author(s): Harry S Davis, Schulte Roth & Zabel LLP
Practice Area: Antitrust, Corporate governance, Corporate law, Enforcement (Securities and other financial products), Insider trading, Investment fund management, Regulation and compliance (Corporate law), Securities and other financial products
Date: Oct 2016 i Other versions can be found in the Related Items tab.
ISBN: 9781402427480
PLI Item #: 172874

Insider trading laws apply to everyone, not just corporate insiders, making it important for all investors to understand the basics of insider trading law, as well as some of its complexities and nuances. Insider Trading Law and Compliance Answer Book provides that understanding, walking readers through:

  • The elements of an insider trading claim
  • What is legitimate company research that can be freely acted upon and what is material, nonpublic information obtained in breach of a duty of trust or confidence that may not be acted upon or shared with others
  • When acting on a “tip” or "tipping" others can incur legal liability
  • The framework of penalties when insider trading has been successfully proved
Insider Trading Law and Compliance Answer Book provides both the lawyer and the investor with a complete understanding of the civil and criminal issues that can arise, the possible penalties that could be incurred, and the defenses available, as well as practical advice to ensure compliance with the law of insider trading. The book also covers many specialized areas, demonstrating how the law of insider trading has been applied to corporate insiders, market professionals, paid consultants, and government employees, as well as in the bankruptcy context.  It reflects the in-depth knowledge of legal practitioners who provide ongoing counseling and litigation representation to a wide array of clients, and provides a concise roadmap, helping the reader to navigate the legal requirements safely.

Harry S. Davis is a partner at Schulte Roth & Zabel, where his practice focuses on regulatory investigations, enforcement actions and complex commercial litigation for financial services industry clients, including hedge funds, funds of funds, private equity funds, prime and clearing brokers, auditors and administrators. Harry has substantial experience in both securities regulatory matters and private litigation, including investigations by the SEC, U.S. attorneys' offices, the Department of Justice, the CFTC, the FTC, state attorneys general, state securities regulators and self-regulatory organizations.

Harry has litigated numerous cases in federal and state courts throughout the U.S., including the successful representation of a prime broker in a hotly contested and high-profile fraudulent transfer trial brought by the bankruptcy trustee of a failed hedge fund. Over the course of his career, Harry has represented clients in investigations and litigations involving allegations of insider trading, market manipulation, market timing and late trading, alleged securities law violations concerning PIPEs, short-swing profits, securities and common law fraud, advertising, breach of fiduciary duty and breach of contract, among other claims. To prevent minor issues from growing into bigger problems, he provides litigation and compliance counseling to many of the firm's clients, and conducts internal investigations.

A prolific author and highly sought speaker, Harry recently served as the editor of the Insider Trading Law and Compliance Answer Book, published by Practising Law Institute, and authored two chapters: "Introduction to the Law of Insider Trading" and "Materiality." He also recently spoke on "Current Issues in Trading Fixed Income Securities" at SRZ's Investment Management Hot Topics and participated in the "Regulatory Panel: Hot Button Regulatory Enforcement and Compliance Issues for the Hedge Fund Industry" at IIR's GAIM Ops Cayman Conference.

Harry graduated with a J.D., magna cum laude, from Cornell Law School, where he was associate editor of the Cornell Law Review, a member of the Moot Court Board and Order of the Coif. Following law school, Harry clerked for Hon. Joseph L. Tauro (U.S.D.C. D. Mass.). Harry was awarded his B.A., with departmental honors, from Johns Hopkins University.