3 Trade securities or maneuver securities market with insider information

But it is difficult to challenge this congressional privilege in the US, in part because insider trading is an ambiguous concept under US law, with no statutory definitions of the terms insider, inside information, or insider trading.

As noted in the OECD Principles, information about record ownership may need to be complemented with information about beneficial ownership in order to identify potential conflicts of interest, related party transactions and insider trading.

The existence of highly developed capital markets encourages certain offences such as insider offences.

Officials who have special knowledge about pending or not publicly announced decisions may commit insider trading, by engaging in commercial or business activity in an unauthorized and improper fashion on the basis of non public information.

First, they translate human rights principles into practice from an insider apos s perspective and reflect more closely the community s concerns.

The US Congress the legislative branch of the country s government effectively exempts itself from the normal rules of insider trading. Congress and the US Supreme Court are the only federal agencies whose employees may, without restrictions, trade stocks based on non public information.

The US television program 60 Minutes recently reported that several current members of Congress allegedly used confidential information that they acquired on the job for personal gain. While the nexus between the privileged information and the trading is difficult to prove (as it is in most insider trading cases), the timing is highly suspicious.

Even more worrying than insider trading by elected representatives is the political intelligence industry that now flourishes in Washington, Brussels, and other major global capitals. In the US, former US congressmen and their staffers collect privileged information and sell it to hedge fund managers, raking in 100 million annually.

In contrast, the European Union has tried to define these terms in directives aimed at prohibiting the practice. According to a directive issued in 1989, An insider is one who, due to his relationship to the company as manager, director, employee, or major shareholder, possesses inside information (material non public facts) and knowingly uses such inside information to acquire or dispose of securities to which the information relates for his own account or another.

I think I hope! that Bezos will make the proper distinctions. He understands the difference between media (yet another of his personal investments is the Web site Business Insider) and journalism.

It is now motivated to use OFDI in promoting exports, acquiring technology abroad, building trade supporting networks and gaining insider status in emerging trading blocs with the strategic objective of global competitiveness.

Activities such as insider transactions, improper payments while insolvent and transfers at under valuations or over valuations would be discouraged if insolvency systems provided for sanctions against those who seek to profit from them.

My office has had significant assistance from certain Member States in the past six months in the matter of relocation and protection of witnesses as well as of family members of high level insider witnesses.

Mozilo did settle with the SEC, but on different charges (insider trading). And he paid only 47.5 million of the 67.5 million settlement, owing to a 20 million indemnification agreement that was part of his employment contract.

A few prominent criminal convictions have sent a powerful signal in the fight against insider trading. If the target is an industry wide culture of deception, shouldn t the criminal justice system be mobilized against banks mortgage fraud as well?

But sometimes this can be an advantage. An insider knows best how to reconcile contrasting interests and how to get the institutional machinery moving again, as Juncker showed with his deft handling of the distribution of tasks among the individual Commissioners.

These are disturbing facts. Talent and effort should be rewarded, but two people of equal capabilities and dedication should not be treated differently just because one happens to be an insider, with a secure job in a big, successful company.

What does it take for organizations like these to become and remain successful? My own experience, as both a government insider and INGO outsider, has been mostly in the area of peace and security, but I think the lessons are generalizable.

Belief in a government answerable to the people and in a transparent market purged of insider dealing no longer guides government policy. Instead, the ideals for which we struggled appear as slogans invoked by those who want to protect their vested interests.

And behind this powerful disagreement between how to close that gap, there's the worst kind of cynical party politics, the worst kind of insider baseball, lobbying, all of that stuff, but there's also this powerfully interesting, respectful disagreement between two fundamentally different economic philosophies.

I felt there's a scene in the Al Pacino movie The Insider, which you may know, where he goes back to CBS after they've let him down over the tobacco guy, and he goes, You know, I just can't do this anymore. Something's broken.

Once a world leader in the fight against environmental degradation, America was the last major economy to acknowledge the reality of climate change. Financial deregulation enriched Wall Street, but ended up creating a global economic crisis through fraud, excessive risk taking, incompetence, and insider dealing.

Rather than just extending insider trading law to the US Congress (or to other legislatures), citizens should demand that all restrictions and reporting requirements imposed on the private sector apply automatically to elected representatives as well. This would make these legislatures more credible, and their laws more just.

Documentation, information and information technology (IT)

Information warfare and illicit use of information

Marco himself was elected deputy on the Socialist ticket, but he defected when the party denied him the chance to contest Frei s nomination in a primary. With this unique mix of insider knowledge and outsider status, and a freshness that both main candidates lack, Enríquez Ominami has gone farther than most observers predicted.

A security services insider, Putin was seen as well placed to protect Yeltsin and his oligarchic allies. Indeed, Berezovsky intended to continue ruling the country from behind the scenes, first as Yeltsin s health failed in the final months of his presidency, and then by controlling the successor he had helped to choose.

But few people whether ordinary citizens or internationally oriented economists recognize that our seemingly weak and ineffectual multilateral institutions are the world s best hope for managing and democratizing the global market. Only these institutions are capable of preventing the elite capture and insider rents that are putting global prosperity at long term risk.

Insider trading, for example, was generally legal under the rules governing fiduciary duties in America's states, which back then played a dominant role. By contrast, the SEC is a rule generating institution of the type that civil law countries like France or Germany would have little difficulty creating if they wished to .

Apart from being a long time career insider at the United Nations, Mr. Annan to us now stands as a good example of the executive manager enjoying wisdom and prudence, together with integrity and commitment, that make him a living embodiment of dedication to the ideals and mission of the United Nations.

(b) definition of the concepts information weapon , and information war , and other hostile or unsanctioned use of information and telecommunications systems and information resources

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