Sisäpiirikaupan

Sisäpiirikauppa refers to the trading of a company's securities by individuals who possess material, non-public information about that company. This information is considered "inside information" because it has not yet been disclosed to the general public and, if known, could significantly influence an investor's decision to buy or sell the company's stock. Individuals who typically have access to such information include company executives, directors, major shareholders, and sometimes employees or external advisors like lawyers or accountants.

The practice of trading on material, non-public information is illegal in most jurisdictions due to its inherent unfairness. It gives insiders an advantage over other investors who do not have access to the same privileged information, thereby distorting market efficiency and undermining investor confidence. Regulatory bodies, such as the Financial Supervisory Authority in Finland, actively monitor and investigate suspected cases of insider trading. Penalties for engaging in illegal sisäpiirikauppa can be severe, including substantial fines and imprisonment. Companies are also required to establish internal policies and procedures to prevent and detect insider trading, often including blackout periods during which certain individuals are prohibited from trading the company's stock. Disclosure rules also mandate that significant transactions by company insiders must be reported to the relevant authorities.