Second Circuit Narrows Reach of Wire Fraud and Insider Trading Prohibitions

The Second Circuit's long-anticipated decision in United States v. Blaszczak limits the government's ability to bring fraud or insider trading prosecutions where the information used to achieve an advantage is regulatory information held by the government. It also brings the Second Circuit in greater alignment with the Supreme Court's wire fraud jurisprudence.

12 minute read February 01, 2023 at 12:09 AM
By
Harry Sandick, Anna Blum and Abigail Marion
Second Circuit Narrows Reach of Wire Fraud and Insider Trading Prohibitions

On Dec. 27, 2022, the Second Circuit published its long-anticipated decision in United States v. Blaszczak, which had been argued more than 18 months earlier.

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