| Budget Amount *help |
¥4,810,000 (Direct Cost: ¥3,700,000、Indirect Cost: ¥1,110,000)
Fiscal Year 2013: ¥1,300,000 (Direct Cost: ¥1,000,000、Indirect Cost: ¥300,000)
Fiscal Year 2012: ¥1,820,000 (Direct Cost: ¥1,400,000、Indirect Cost: ¥420,000)
Fiscal Year 2011: ¥1,690,000 (Direct Cost: ¥1,300,000、Indirect Cost: ¥390,000)
|
|---|
| Outline of Final Research Achievements |
This study seeks to clarify the details of Canadian insider trading regulations probably for the first time in Japan. Canada has created legal regulations on insider trading at an earlier date than the other countries. Interestingly, the purposes of Canadian insider trading regulation, which focus on public interests and market fairness, are exactly the same as Japan. However, Canada is quite unique to the extent that they make it legal for insiders to trade securities under certain conditions, which is called "legal insider trading". As for the illegal insider trading, Canada has similar regulatory framework in their securities law compared to Japan. It should be noted that the requirements for illegality such as “materiality” lack detail or specifics, which makes interpretation difficult. However, they appear to have become clear through an accumulation of judicial precedents and such mechanism bears some resemblance to American case laws.
|
