Sisäpiirit

Sisäpiirit refers to the practice of using non-public, price-sensitive information to gain an unfair advantage in financial markets. The term originates from the English phrase "insider trading," where individuals with access to confidential corporate or regulatory information exploit it for personal gain. This activity is widely considered unethical and illegal in most jurisdictions, as it undermines fair market competition and erodes investor trust.

In Finland, insider trading is regulated under the Securities Markets Act and the Securities Market Supervision Act, enforced by the Finnish Financial Supervisory Authority (Finanssivalvonta, FiVe). The law prohibits trading or communicating information that is not publicly available but could significantly influence the price of a security. Violations can result in severe penalties, including fines and criminal charges, depending on the severity and intent of the offense.

Sisäpiirit can involve various parties, including corporate insiders such as executives, directors, or employees with access to sensitive data, as well as external individuals who receive such information through improper channels. The practice is particularly risky because market regulators closely monitor trading patterns and may investigate suspicious activity. Transparency and timely disclosure of material information are key principles in preventing insider trading and maintaining market integrity.

While some argue that insider trading can be difficult to prove due to the covert nature of the activity, regulatory bodies employ tools like surveillance systems, whistleblower programs, and cooperation with international authorities to combat it. Public awareness and strict enforcement remain essential in deterring such behavior and protecting the fairness of financial markets.