Insider Trading
Article Abstract:
Senator Alphonse D'Amoto is sponsoring legislation to define and penalize fraudulent insider trading. The Supreme Court has recently narrowly interpreted the SEC's anti-fraud rules. These are the commission's basis for outlawing insider trading. Congress now feels that stricter laws are needed. D'Amoto feels that definition of insider trading is only one issue. He believes it is more important to determine the penalties for such trading. Right now a bill calling for treble damages in insider trading cases - three times the damages now allowed and boosting fines $10,000 to $100,000 - is being considered.
Publication Name: Barron's
Subject: Business, general
ISSN: 1077-8039
Year: 1984
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Legal Mess
Article Abstract:
The bankruptcy court system will grind to a halt on April 1, 1984. Unless Congressional action is taken a constitutional crisis will take place. The Supreme Court ruled in 1982 that bankruptcy courts should comply with the provisions of the Constitution, or a reasonable alternative should be formed. Congress is now deadlocked on the issue. Interim emergency measures have already been instituted to deal with some of the issues that needed immediate attention. Legislative action seems remote for the near future, especially regarding consumer bankruptcy procedures.
Publication Name: Barron's
Subject: Business, general
ISSN: 1077-8039
Year: 1984
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Abusive Tax Shelters
Article Abstract:
The promoters of the stamp-master-leases are being brought to court by the Internal Revenue Service (IRS). They are being charged with selling abusive tax shelters. This will be the first full court fight on an abusive tax shelter since the passage of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA). Many tax shelters are being investigated by the IRS. The single most popular tax shelter audit targets involved real estate. Nearly 63,000 real-estate tax shelters were being examined in March 1, 1983.
Publication Name: Barron's
Subject: Business, general
ISSN: 1077-8039
Year: 1984
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Comment about this article or add new information about this topic:
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