ABOLITION OF INSIDER TRADING ON THE TANZANIA’S SECURITIES MARKET: A COMPARATIVE LEGAL APPROACH FROM SOUTH AFRICA AND UK
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Keywords:
Insider Trading, Securities Market, Capital Market and Securities Act, Inside InformationAbstract
Practicing insider trading on any securities market is an unprofessional conduct. It is against this panorama that authors get courage to carry out the study which examines the Tanzania’s insider trading legal regime’s adequacy to eliminate insider trading actions on the securities market. This paper discovers that Tanzania’s insider trading legal regime is characterised with flaws, duplications and ambiguities. Authors have employed a comparative legal approach which substantiates the best practices in controlling or eliminating insider trading dealings on the securities market. Compared jurisdictions of South Africa and UK have proven the best standards in controlling insider trading. Compared statutes include the Financial Markets Actiof South Africa and the Financial Services and Markets Actii together with the Criminal Justice Actiii of UK. These statutes are compared in their respective provisions of prohibition, enforcement and defences including remedial measures. Ideas in this paper advance from the LL.M Mini-Thesis of the Co-author at the University of the Western Cape.
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