The Concept and Features of Insider Information

In this article the author studies the concept of insider information under international law, as well as in the US, Europe and Asia, according to their legislation. The definition identifies a number of features of insider’s information and indicates the problem of counter-insider regulation in America and Europe in the twentieth century. Each subsequent definition of insider information is compared with the previous, indicating new or recurrent symptoms. The author points out that in the Russian Federation the counter-insider law has been adopted based on international instruments and foreign sources relating to this matter. The article points out that at present there is administrative and criminal liability for trafficking in insider information in Russia. It also analyzes the concept of «insider information» under Russian law, distinguishes the features of insider information, and concludes that this concept is cumbersome and complex, since it includes excessive legally protected information that is incorrect and proposes to reformulate the concept of insider information.