Hector Sants will not like this, but the debate over whether insider dealing should be decriminalised is gathering pace.
First there was Chris Dillow at Stumbling and Mumbling, who suspects the current market abuse regime owes more to the power of vested interests than to economic logic.
Next Michael Giberson at the Knowledge Problem blog is on the case, debating whether insider trading restrictions should be optional at the level of individual companies.
That has stirred the 1-2 Knockout blog to declare:
All things considered, I can see moral arguments against insider trading, but I have yet to have anyone show me a compelling economic argument against it.
Related links:
Paper by Stephen Bainbridge of the University of California - Social Science Research Network
What next, internment? - FT Alphaville
Hat tip - Dealbreaker
