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LEGAL ANALYSIS OF THE MECHANISMS FOR CONTROL OF INSIDER TRADING ON SECURITIES TRANSACTIONS IN NIGERIA
Abstract:
Insider trading is a critical issue in securities markets worldwide, posing threats to market integrity and investor confidence. This abstract provides an overview of the legal mechanisms in place for controlling insider trading on securities transactions in Nigeria.
The study begins by examining the concept of insider trading and its detrimental impact on the Nigerian securities market. It delves into the various forms of insider trading, including classical and misappropriation insider trading, emphasizing their adverse effects on market efficiency, fairness, and investor protection.
Subsequently, the research analyzes the legal framework in Nigeria designed to combat insider trading. The key legal instruments discussed include the Investments and Securities Act 2007, the Securities and Exchange Commission (SEC) Rules and Regulations, and the Nigerian Stock Exchange (NSE) Rules. These regulations establish a comprehensive framework for identifying, preventing, and penalizing insider trading activities.
The study also assesses the effectiveness of these mechanisms in curbing insider trading. It highlights the role of the Securities and Exchange Commission and the Nigerian Stock Exchange in surveillance, enforcement, and education. It also evaluates recent cases of insider trading in Nigeria and the corresponding sanctions imposed, shedding light on the evolving jurisprudence in this area.
Furthermore, the research explores challenges and potential areas for improvement in the existing legal framework. This includes the need for more robust enforcement mechanisms, enhanced whistleblower protection, and increased transparency in corporate governance practices.
In conclusion, this legal analysis underscores the significance of stringent measures to combat insider trading in Nigeria’s securities markets. It provides insights into the effectiveness of the current legal mechanisms, while also offering recommendations for enhancing the regulatory framework to ensure a fair and transparent marketplace conducive to investor confidence and sustained economic growth.
LEGAL ANALYSIS OF THE MECHANISMS FOR CONTROL OF INSIDER TRADING ON SECURITIES TRANSACTIONS IN NIGERIA. GET MORE LAW PROJECT TOPICS AND MATERIALS
