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U.S. insider trading law continues to be in flux. A decision is expected soon from the Second Circuit (perhaps in time for this presentation), after the government confessed error as to all the substantive counts of conviction, in US v. Blazszack, et al (2018’s “political intelligence” insider trading trial). Will the elements that make up insider trading be left to vary depending on what securities fraud statute the prosecution chooses? Practitioners and market participants alike have been left wondering how to determine the boundaries between legal and illegal conduct.
Register and hear from Allen & Overy LLP partner Eugene Ingoglia, who prosecuted insider trading cases as an Assistant U.S. Attorney in the Southern District of New York, including the trial of Mathew Martoma in the largest-dollar insider trading scheme prosecuted to date, and who as a defense attorney has defended clients in recent insider trading investigations and trials. Mr. Ingoglia will address questions around the current state of the law, including questions relating the Blazszack case, in which he represents one of the appellants.
Questions that will be addressed include:
- How does the Government’s pursuit of a new theory of insider trading law impact market participants? (10 minutes)
- How will this case impact the kind of charges prosecutors will bring in insider trading cases? Will they continue to bring charges under the easier-to-prove Title 18 theory? (10 minutes)
- How can market participants protect themselves in this uncertain environment? (10 minutes)
The presentation also will address other insider trading developments, including:
- The recent SEC “shadow trading” case, in which the material non-public information at issue was about a company different than the company whose stock was traded; is it a one-off or a sign of things to come? (10 minutes)
- Recent CFTC and federal criminal charges of commodities fraud in Texas alleging a form of insider dealing in the commodities markets (10 minutes)
- Predictions about whether we will see insider trading prosecutions in the crypto space, and what form such cases might take (10 minutes).