Follow Us

Law.com Subscribers SAVE 30%

Call 855-808-4530 or email GroupSales@alm.com to receive your discount on a new subscription.

Commercial Law General Counsel and In House Counsel Regulation Securities Litigation

Insider Trading Liability for Liability Based on Tips from Family

When the Supreme Court last year agreed to hear the defendant's appeal in United States v. Salman, it raised expectations in some quarters that it might significantly change insider trading law by curtailing liability for trading on tips from family members. But when it issued its opinion in December, it disappointed those expectations by unanimously reaffirming liability for trading on family tips, even where the tipper receives no monetary gain.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

When the Supreme Court last year agreed to hear the defendant’s appeal in United States v. Salman, 792 F.3d 1087 (9th Cir. 2015), it raised expectations in some quarters that it might significantly change insider trading law by curtailing liability for trading on tips from family members. But when it issued its opinion in December, it disappointed those expectations by unanimously reaffirming liability for trading on family tips, even where the tipper receives no monetary gain. Salman v. United States, No. 15-628 (S.Ct. Dec. 6, 2016).

Read These Next