Professor of Law and Justice Nathan L. Jacobs Scholar at Rutgers School of Law
Not Clearly Pro or Con to the question "Should Insider Trading by Congress Be Allowed?"
"People in many fields of endeavor are privy to valuable confidential information before it is made public: For example, business executives, investment bankers, and lawyers have access to information about impending corporate mergers and acquisitions; Judges, juries, and court personnel have access to information about the probable outcome of court decisions; and officials at the FDA, EPA, and other administrative agencies have access to information about the likely outcome of regulatory proceedings. All of these individuals are prohibited by law from using such confidential information in the purchase and sale of publicly traded stocks. Likewise, members of Congress and their staffs are also privy to valuable confidential information not yet made public. They have information about the likely outcome of various votes, committee proceedings, and investigations. Such information can be extremely valuable to investors. Those who buy and sell stock on the basis of such non-public information will have an obvious advantage over those who lack such information. This is not the sort of information that even the most savvy and sophisticated investor would be able to obtain legally. From a moral perspective, such informational advantages are indistinguishable from those enjoyed in more familiar forms of insider trading."
Experts Individuals with JDs, PhDs, or equivalent advanced degrees in fields relevant to insider trading issues. Also top-level government officials (such as foreign leaders, US presidents, Founding Fathers, Supreme Court Justices, members of legislative bodies, cabinet members, military leaders, etc.) with positions relevant to insider trading issues.
Involvement and Affiliations:
Professor of Law and Justice Nathan L. Jacobs Scholar, Rutgers School of Law, July 1, 2008-present
Louis B. Porterie Professor of Law, Louisiana State University Law Center, 1995-June 30, 2008
Consultant, Law Commission of England and Wales, 2007
Visiting Professor of Law, University of Michigan Law School, Fall 2005
Fulbright Distinguished Scholar, UK, Visiting Research Fellow, University of Glasgow School of Law, 2002-2003
Visiting Associate Professor of Law, University of Arizona College of Law, Spring 2001
"Looting, Law, and Lawlessness," at University of Notre Dame Law School faculty colloquium, Nov. 2005; Hebrew University of Jerusalem Faculty of Law, Criminal Justice Study Group colloquium, June 2006; Boston University School of Law faculty workshop, Sep. 2006; All Souls College, University of Oxford, Jan. 2007; UCLA Law School faculty colloquium, Mar. 2007
"Rationing Criminal Procedure: A Response to Ashworth and Zedner," Workshop on "Why Criminal Law?," British Academy, London, Jan. 2007