The Problems of Realization of the Right to Claim Damages Incurred in Connection with the Improper Use of Insider Information

Abstract

The article examines the Russian and foreign approach to the problem of recovery of damages incurred in connection with the improper use of insider information. The author studies the nature of the damages incurred in connection with the improper use of insider information considering, firstly, the cause-and-effect relations and then the problem of computing the said damages. The author compares legislation of the Russian Federation, the USA, and the European Union and concludes that the point of view according to which the persons suffered from damages due to the violation of a norm prohibiting the use of insider information have the right to claim damages, is not generally recognized.

Keywords:

Insider information, insider, financial market