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At the Center
Friday, Mar. 26, 2010
From a definition of insider trading to scenarios about the problem this white paper, presented to the Center's Business and Organizational Ethics Partnership, gives an overview of what the SEC is doing to monitor the practice and what businesses can do to prevent it.
On the ethics of the issue, co-author Bahram Seyedin-Noor, partner at Wilson Sonsini,comments:
"That a trade is legal does not necessarily make it ethical. The ethical principle is easy to understand because the principle tenet of our securities market is that no trader should have an unfair advantage when trading. When a trader has material non-public inside information, and he or she trades with someone who doesn't, it seems to many to be unfair on its face."
Hollis O'Brien, former corporate vice president, secretary, and chief governance officer of AMD also contributed to the presentation.
Tags: business ethics