A Comparative Overview of the State Prohibition on Market Abuse in the United States of America*

Howard Chitimira


It is important to note that market abuse is outlawed both at a federal and state level in the United States of America (the US). In relation to this, it is worth noting that the state prohibition on market abuse has relatively and immensely contributed to the combating of market abuse activities in the US capital and financial markets to date. Consequently, it is on this basis that this article provides a brief overview analysis of the enforcement of the market abuse prohibition, firstly in California state. Secondly, a similar analysis will be done focusing on Delaware state. Lastly, the enforcement of the market abuse ban in Washington state will be undertaken. The aforementioned states are selected not only because of their unique and relatively consistent anti-market abuse enforcement approaches but also because of the potential enforcement lessons that could be adopted from such approaches, especially in South Africa. Thereafter and where appropriate, relevant provisions and cases from the selected US states will be contrasted with similar provisions and cases in South Africa in order to identify and recommend, where necessary, possible anti-market abuse enforcement approaches that could be incorporated in the South African anti-market abuse regulatory and enforcement framework.

DOI: 10.5901/mjss.2014.v5n7p54

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This work is licensed under Creative Commons Attribution 3.0 License.

Mediterranean Journal of Social Sciences ISSN 2039-9340(Print) ISSN 2039-2117(Online)

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