International Law

INSIDER TRADING IN THE DUTCH CARIBBEAN

By Karel.Frielink

A criminal offense

The Netherlands Antilles Ordinance on the Supervision of Stock Exchanges 1998 (?Landsverordening toezicht effectenbeurzen 1988?) contains a prohibition on insider trading.

Any person who is in possession of inside information is prohibited from carrying out a transaction or being instrumental in a transaction in securities in a company listed on a Netherlands Antilles stock exchange or on any other foreign recognized stock exchange, or in any securities whose value is determined by such securities.

In general it is prohibited for anyone, including an issuer, once it is reasonable to assume that securities will be listed, to enter into or effectuate a transaction concerning such securities in or from the Netherlands Antilles when in possession of insider information about the issuing company or the trading of its securities.

Inside information is defined as specific information regarding a company or the trading of shares in a company that has not been made public, the disclosure of which can reasonably be expected to have an effect on the price of the securities concerned, irrespective of the direction of the price movement.

Karel Frielink
Attorney (Lawyer) / Partner

Full post as published by Karel's Legal Blog on March 29, 2008 (boomark / email).