Ambiguity in Insider Trading Regulations: Saudi Arabia as a Case Study
In: Arab Law QuarterlySearch for other papers by Yahya A. Alomari in
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Abstract
The Saudi legal system recognises insider trading as a crime and has established laws in order to prevent it. Yet, the complicated nature of insider trading makes it challenging to enact regulations that cover all of the aspects of the crime and clearly identify criminal conduct. This article analyses insider trading regulations in Saudi Arabia and addresses their ambiguities. This article specifies current Saudi regulations pertaining to the crimes of insider trading and disclosing material information, as well as analysing both crimes. It addresses ambiguities found in the language of the law as well as in case law. This article also criticises the definition of insider information under the law. The issue of ‘use’ versus ‘possession’ is discussed: namely, whether what is prohibited is trading on the basis of material non-public information or trading while in possession of material non-public information.
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| All Time | Past 365 days | Past 30 Days | |
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Ambiguity in Insider Trading Regulations: Saudi Arabia as a Case Study
In: Arab Law QuarterlySearch for other papers by Yahya A. Alomari in
Current site
Google Scholar
PubMed
Abstract
The Saudi legal system recognises insider trading as a crime and has established laws in order to prevent it. Yet, the complicated nature of insider trading makes it challenging to enact regulations that cover all of the aspects of the crime and clearly identify criminal conduct. This article analyses insider trading regulations in Saudi Arabia and addresses their ambiguities. This article specifies current Saudi regulations pertaining to the crimes of insider trading and disclosing material information, as well as analysing both crimes. It addresses ambiguities found in the language of the law as well as in case law. This article also criticises the definition of insider information under the law. The issue of ‘use’ versus ‘possession’ is discussed: namely, whether what is prohibited is trading on the basis of material non-public information or trading while in possession of material non-public information.
| All Time | Past 365 days | Past 30 Days | |
|---|---|---|---|
| Abstract Views | 1058 | 142 | 2 |
| Full Text Views | 30 | 4 | 0 |
| PDF Views & Downloads | 75 | 9 | 0 |