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Legislative Lacuna in the Rules Governing the Right of Shareholders' access to Information and Regulating the Prohibition of Insider Trading their Stocks within the Framework of Transparency Rules. | ||
| Journal of Anbar University for Law and Political Sciences | ||
| Article 8, Volume 15, Issue: 1 part 2, June 2025, Pages 210-253 PDF (882.28 K) | ||
| Document Type: Research Paper | ||
| DOI: 10.37651/aujlps.2024.151989.1313 | ||
| Authors | ||
| Maher Seddiq Mello* 1; Farhad Seaid Saadi2 | ||
| 1College of Law- University of Duhok Duhok- Kurdistan Region-Iraq | ||
| 2College of Law- University of Duhok Duhok- Kurdistan Region-Iraq | ||
| Abstract | ||
| The research addresses the increasing problem of insider trading in the shares of joint-stock companies in financial markets by diagnosing its causes and seeking effective solutions to mitigate it. Given the apparent inadequacy of regulations prohibiting trading based on undisclosed company information, insider trading has become a real problem requiring a diagnosis of its causes and the development of appropriate solutions. The researcher focuses on studying these causes, highlighting deficiencies in disclosure regulations under laws governing financial market transactions and excesses in rules allowing access to company information as stipulated in corporate laws. Most legislators, including the Iraqi legislator, have been unable to strike a balance between the right to access information to achieve transparency and the obligation to disclose information to preserve the interests of the company and its shareholders without discrimination. The scope of the study was limited to information specific to joint stock companies and not other companies due to their specificity, while excluding information related to the movement and activity of securities within the financial market and the informed participants in it. | ||
| Keywords | ||
| Transparency and disclosure; right to access; undisclosed information; insider trading prohibition | ||
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