sisäpiiriläisyys

Sisäpiiriläisyys refers to the practice of trading securities based on material non-public information. This means an individual possesses information that is not generally known to the public and could significantly influence the price of a company's stock or other financial instruments. When such an individual buys or sells those securities because of this information, it is considered insider trading.

The concept is closely tied to fairness in financial markets. Proponents of strict regulation argue that insider trading gives an unfair advantage to those with privileged information, undermining market integrity and discouraging participation by ordinary investors. It can distort stock prices and lead to misallocation of capital.

Legal frameworks in most jurisdictions prohibit insider trading. These laws typically define what constitutes "material non-public information" and who is considered an "insider." Insiders can include company executives, directors, employees, and even external individuals like lawyers, accountants, or consultants who gain access to confidential information through their professional dealings with the company.

Penalties for insider trading can be severe, including substantial fines and imprisonment. Regulators actively monitor trading activity for suspicious patterns that might indicate insider dealing. While the definition and enforcement vary, the core principle remains to ensure that all investors have access to the same fundamental information before making investment decisions.