“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice
Autor(a) principal: | |
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Data de Publicação: | 2022 |
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Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Meritum (Belo Horizonte. Online) |
Texto Completo: | http://revista.fumec.br/index.php/meritum/article/view/8611 |
Resumo: | The criminal offense generates sanctions to the guilty-declared offender, usually as a legally defined sanction. Furthermore, there is a distinct consequence that is materialized in civil liability for the damages derived from the criminal offense. Tort law, in such sense, reveals the existence of both civil and criminal provisions as a means to repair the damage caused by and infraction. Thus, civil liability holds forth legal provisions that impose a contemporary analysis of ethics, mainly for company administrators in large corporations that deal in stock markets, and its specific characteristics reveal the problem that this paper aims to investigate. The hypothesis is that, currently, ethical parameters must not be overlooked, as one might be held accountable for the misuse of privileged information, which is part of the legal system that, in Brazilian law, forbids such practices in stock markets, thus having created a criminal offense regarding the so-called insider trading designation for the specific crime, which is derived from the misuse of “relevant information, not yet divulged to the market” that generates profit in stock exchanges through market deals. The deductive method will be implemented in this research, with bibliographical and qualitative substrates. |
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“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practiceRESPONSABILIDADE CIVIL “EX DELICTO” DECORRENTE DO USO INDEVIDO DE INFORMAÇÃO PRIVILEGIADA: REFLEXÕES SOBRE A PRÁTICA DO INSIDER TRADINGThe criminal offense generates sanctions to the guilty-declared offender, usually as a legally defined sanction. Furthermore, there is a distinct consequence that is materialized in civil liability for the damages derived from the criminal offense. Tort law, in such sense, reveals the existence of both civil and criminal provisions as a means to repair the damage caused by and infraction. Thus, civil liability holds forth legal provisions that impose a contemporary analysis of ethics, mainly for company administrators in large corporations that deal in stock markets, and its specific characteristics reveal the problem that this paper aims to investigate. The hypothesis is that, currently, ethical parameters must not be overlooked, as one might be held accountable for the misuse of privileged information, which is part of the legal system that, in Brazilian law, forbids such practices in stock markets, thus having created a criminal offense regarding the so-called insider trading designation for the specific crime, which is derived from the misuse of “relevant information, not yet divulged to the market” that generates profit in stock exchanges through market deals. The deductive method will be implemented in this research, with bibliographical and qualitative substrates.A infração penal acarreta ao agente, considerado culpado, uma das modalidades de sanção penal, via de regra, a pena cominada em lei. Ademais, há pretensão distinta, materializada na reparação do dano causado pela prática do injusto. Conjugam-se previsões legais de natureza civil e penal, haja vista que um dos efeitos automáticos da condenação é o de tornar certa a obrigação de reparar o dano decorrente do crime. A responsabilidade civil, salvaguarda dos bens jurídicos impõe uma leitura contemporânea da ética, notadamente quando gestor de empresas e de grandes conglomerados que negociam as suas ações nas bolsas de valores mobiliários, com características próprias que consubstanciam o problema ora investigado. Trabalhar-se-á com a hipótese de que, hodiernamente, exige-se observância de parâmetros éticos, pois a responsabilização da pessoa que se vale de informação privilegiada, integra o regramento jurídico trazido pela lei que veda essa prática no mercado de capitais, a qual criou o tipo penal decorrente da prática designada pela expressão inglesa insider trading, decorrente da utilização de “informação relevante, ainda não divulgada ao mercado”, angariando lucro no mercado de ações através de negociação com valores mobiliários. Será utilizado o método dedutivo, com aporte em substratos bibliográficos e em pesquisa qualitativa.Universidade FUMEC2022-02-04info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttp://revista.fumec.br/index.php/meritum/article/view/861110.46560/meritum.v16i2.8611Meritum, Law Journal of FUMEC University; Vol. 16, Nº 2 - maio/agosto 2021Meritum, Revista de Derecho de la Universidad FUMEC; Vol. 16, Nº 2 - maio/agosto 2021Meritum, Journal de droit de l'Université FUMEC; Vol. 16, Nº 2 - maio/agosto 2021Meritum, Revista de Direito da Universidade FUMEC; Vol. 16, Nº 2 - maio/agosto 20212238-69391980-207210.46560/meritum.v16i2reponame:Meritum (Belo Horizonte. Online)instname:Universidade FUMECinstacron:FUMECporhttp://revista.fumec.br/index.php/meritum/article/view/8611/4345Lopes, Luciano SantosFaleiros, José Luiz Mourainfo:eu-repo/semantics/openAccess2022-02-04T12:30:33Zoai:ojs.fumec.br:article/8611Revistahttp://revista.fumec.br/index.php/meritumPUBhttps://revista.fumec.br/index.php/meritum/oairevistameritum@fumec.br2238-69391980-2072opendoar:2022-02-04T12:30:33Meritum (Belo Horizonte. Online) - Universidade FUMECfalse |
dc.title.none.fl_str_mv |
“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice RESPONSABILIDADE CIVIL “EX DELICTO” DECORRENTE DO USO INDEVIDO DE INFORMAÇÃO PRIVILEGIADA: REFLEXÕES SOBRE A PRÁTICA DO INSIDER TRADING |
title |
“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice |
spellingShingle |
“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice Lopes, Luciano Santos |
title_short |
“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice |
title_full |
“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice |
title_fullStr |
“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice |
title_full_unstemmed |
“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice |
title_sort |
“Ex delicto” civil liability for the misuse of privileged information: some thoughts on the insider trading practice |
author |
Lopes, Luciano Santos |
author_facet |
Lopes, Luciano Santos Faleiros, José Luiz Moura |
author_role |
author |
author2 |
Faleiros, José Luiz Moura |
author2_role |
author |
dc.contributor.author.fl_str_mv |
Lopes, Luciano Santos Faleiros, José Luiz Moura |
description |
The criminal offense generates sanctions to the guilty-declared offender, usually as a legally defined sanction. Furthermore, there is a distinct consequence that is materialized in civil liability for the damages derived from the criminal offense. Tort law, in such sense, reveals the existence of both civil and criminal provisions as a means to repair the damage caused by and infraction. Thus, civil liability holds forth legal provisions that impose a contemporary analysis of ethics, mainly for company administrators in large corporations that deal in stock markets, and its specific characteristics reveal the problem that this paper aims to investigate. The hypothesis is that, currently, ethical parameters must not be overlooked, as one might be held accountable for the misuse of privileged information, which is part of the legal system that, in Brazilian law, forbids such practices in stock markets, thus having created a criminal offense regarding the so-called insider trading designation for the specific crime, which is derived from the misuse of “relevant information, not yet divulged to the market” that generates profit in stock exchanges through market deals. The deductive method will be implemented in this research, with bibliographical and qualitative substrates. |
publishDate |
2022 |
dc.date.none.fl_str_mv |
2022-02-04 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://revista.fumec.br/index.php/meritum/article/view/8611 10.46560/meritum.v16i2.8611 |
url |
http://revista.fumec.br/index.php/meritum/article/view/8611 |
identifier_str_mv |
10.46560/meritum.v16i2.8611 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
http://revista.fumec.br/index.php/meritum/article/view/8611/4345 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
Universidade FUMEC |
publisher.none.fl_str_mv |
Universidade FUMEC |
dc.source.none.fl_str_mv |
Meritum, Law Journal of FUMEC University; Vol. 16, Nº 2 - maio/agosto 2021 Meritum, Revista de Derecho de la Universidad FUMEC; Vol. 16, Nº 2 - maio/agosto 2021 Meritum, Journal de droit de l'Université FUMEC; Vol. 16, Nº 2 - maio/agosto 2021 Meritum, Revista de Direito da Universidade FUMEC; Vol. 16, Nº 2 - maio/agosto 2021 2238-6939 1980-2072 10.46560/meritum.v16i2 reponame:Meritum (Belo Horizonte. Online) instname:Universidade FUMEC instacron:FUMEC |
instname_str |
Universidade FUMEC |
instacron_str |
FUMEC |
institution |
FUMEC |
reponame_str |
Meritum (Belo Horizonte. Online) |
collection |
Meritum (Belo Horizonte. Online) |
repository.name.fl_str_mv |
Meritum (Belo Horizonte. Online) - Universidade FUMEC |
repository.mail.fl_str_mv |
revistameritum@fumec.br |
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1798945263670263808 |