Book Review Essay: Sarah Wilson, The Origins of Modern Financial Crime: Historical Foundations and Current Problems in Britain

Book review essay on Sarah Wilson\u27s The Origins of Modern Financial Crime: Historical Foundations and Current Problems in Britain.Routledge, 2014

Does Insider Trading Pay? An Analysis of Trading and Tipping Activities in Insider Trading Litigation

Purpose This paper analyzes trading and tipping activities in insider trading litigation decided by federal courts from January 1, 2012 to December 31, 2014. Design/methodology/approach Legal documents from the US Securities and Exchange Commission, LexisNexis and Westlaw databases were coded to determine profile, patterns of trading and settlement outcomes. Findings Results of statistical analysis indicate that a defendant in both civil and criminal cases is more likely to trade on the information when he/she receives a direct, financial benefit from breaching his/her duty of confidentiality. The defendant tipper is also more likely to pass on the information to a close personal friend, business associate or family member. The average amount of profit of defendants in both civil and criminal proceedings substantially exceeds the average amount of their settlements. Originality/value This paper offers support for the rational choice model – insider trading is often based on rational calculations of benefits not only to the defendant but also to his/her family and associates. Although the threat of civil enforcement and criminal proceedings may possibly deter him/her from committing the crime, results indicate that the amounts of settlement in both proceedings are considerably lower than the amount of profits obtained from the offense

Building Legal Competency: Foundations for a More Effective Criminology and Criminal Justice Discipline

This article argues for the need to build legal competency in the discipline of criminal justice and criminology through incorporating law courses in its PhD program curriculum, whether as black letter law (i.e. criminal law, criminal procedure, courts), sociology of law, or socio-legal studies (i.e. law and society courses). Through requiring law courses as a necessary and integral part of the curriculum, and recognizing the mainstream impact of these courses, the discipline stands to enrich the field of legal studies in criminology and criminal justice. The discipline’s need and demand for law trained tenure track faculty with PhD credentials can only be met through consistent law course offerings