英文标题：
《Can Insider Trading Be Committed Without Trading?》
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作者：
Russell Stanley Q. Geronimo
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最新提交年份：
2018
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英文摘要：
Before a person can be prosecuted and convicted for insider trading, he must first execute the overt act of trading. If no sale of security is consummated, no crime is also consummated. However, through a complex and insidious combination of various financial instruments, one can capture the same amount of gains from insider trading without undertaking an actual trade. Since the crime of insider trading involves buying or selling a security, a more sophisticated insider can circumvent the language of the Securities Regulation Code by replicating the economic equivalent of a sale without consummating a sale as defined by law.
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中文摘要：
在一个人因内幕交易被起诉和定罪之前，他必须首先执行公开的交易行为。如果未完成证券出售，则也未完成犯罪。然而，通过各种金融工具的复杂而阴险的组合，人们可以在不进行实际交易的情况下从内幕交易中获得相同数额的收益。由于内幕交易罪涉及买卖证券，更老练的内幕人士可以通过复制销售的经济等价物而绕过《证券监管法》的语言，而不必完成法律定义的销售。
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分类信息：

一级分类：Quantitative Finance 数量金融学
二级分类：General Finance 一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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