CRIMES AGAINST DE CAPITAL MARKET: INSIDER TRADING

Abstract

THIS ARTICLE DEALS WITH THE CRIME OF MISUSE OF PRIVILEGED INFORMATION, OR, INSIDER TRADING, INTRODUCED TO THE BRAZILIAN LEGAL SYSTEM AT THE BEGINNING OF THE 21ST CENTURY DUE TO THE NEED TO TYPIFY SUCH CONDUCT, AND EVEN TODAY, IT IS PERCEIVED TO BE INVOLVED IN CONTROVERSIES. THE STUDY WILL TAKE PLACE THROUGH THE CHARACTERIZATION OF THOSE ACTIVELY INVOLVED IN THIS PRACTICE, AS WELL AS THE THIRD PARTIES INVOLVED AND CONSEQUENTLY AFFECTED BY SUCH CRIMINAL CONDUCT. IT WILL AIM TO PORTRAY THE CONSEQUENCES OF THIS OFFENSE ON THE CAPITAL MARKET, AS WELL AS ON THE STOCK EXCHANGE, AND ALSO JUDGMENTS IN BRAZIL WERE ANALYZED. AS THIS IS AN EXCLUSIVELY INTELLECTUAL WORK, NO FIELD RESEARCH WILL BE CARRIED OUT, IT IS ONLY LIMITED TO JUDGING STUDIES AND SCIENTIFIC RESEARCH. IT IS DIVIDED INTO THREE PARTS THAT WILL CONCEPTUALIZE THE CRIME OF INSIDER TRADING, ACCOMPANIED BY AN INTERNATIONAL HISTORICAL OVERVIEW REGARDING THE INCLUSION OF THIS TYPE IN THE CRIMINAL ORDER, THE SECOND PART WILL ADDRESS THE USE OF PRIVILEGED INFORMATION IN THE LIGHT OF BRAZILIAN CRIMINAL LAW, WITH A BRIEF STUDY OF THE CRIMINAL TYPE, PRESENTING THE PENALTY INCURRED BY THE TIPPER AND THE TIPPEE, THE THIRD PART DEALS WITH JUDGMENTS AND JURISPRUDENTIAL UNDERSTANDINGS OF THE SECURITIES COUNCIL AND ENDS WITH THE CONSEQUENCES OF GAINING AN ADVANTAGE IN THE SECURITIES MARKET THROUGH THE USE OF PRIVILEGED INFORMATION.