Notions of insider information and market manipulation in Russian and foreign legislation: comparative and legal aspect

Abstract

The article analyses Russian and foreign approaches to the definition of such notions as market manipulation and insider information. The author examines the legal aspects of evolutions of the notions “insider information” and “market manipulation” and differences between these notions in various legal systems. The author compares legislation of the Russian Federation, the USA, the European Union and a number of European countries. The article also touches upon the implementation of directives on financial markets into the legislation of the European Union Member States.

Keywords:

insider information, insider, financial market, market manipulation