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dc.contributor.advisorMarbacher, Josef
dc.contributor.authorfirstname
dc.contributor.otherFirma: Columbus Vertriebs AG| Kontakt: Daniel Schwendimann| PLZ/ Ort: 6343 Risch
dc.date.accessioned2015-09-02T07:29:02Z
dc.date.available2015-09-02T07:29:02Z
dc.date.issued2013
dc.identifier.urihttp://hdl.handle.net/11654/4357
dc.description.abstractWith Sonova, Swisscom and even the Swiss National Bank, Switzerland was host to several famous insider trading cases. Yet it seems as though hardly any legal conviction ever takes place. This paper thus investigates the reason for this potential inefficiency for the Swiss financial center. (Beitrag ist nur für FHNW Mitarbeitende sichtbar)
dc.language.isode_CH
dc.accessRightsAnonymous
dc.subjectInsider trading
dc.subjectRegulation
dc.subjectSwiss financial markets
dc.subjectFinance
dc.subject.ddc330 - Wirtschaft
dc.subject.ddc330 - Wirtschaft
dc.titleThe Swiss Insider Norm is not Operational
dc.type11 - Studentische Arbeit
dc.audienceSonstige
fhnw.StudentsWorkTypeBachelor
fhnw.publicationStateUnveröffentlicht
fhnw.ReviewTypeKein Peer Review
fhnw.InventedHereYes
fhnw.ConfidentLevelStaff
fhnw.leadWith Sonova, Swisscom and even the Swiss National Bank, Switzerland was host to several famous insider trading cases. Yet it seems as though hardly any legal conviction ever takes place. This paper thus investigates the reason for this potential inefficiency for the Swiss financial center.
fhnw.initialPositionInsider trading represents a significant threat for the efficiency of the financial markets. The costs of which the whole society has to bear. Higher Initial Public Offering costs, higher costs of Equity and a less liquid markets are some of the effects of illegal insider trading. The thesis assumes that the Swiss Insider Norm is not operational. The main reasons for that being that the introduction ocurred due to significant pressure from the United States. Additionally, it is assumed that there is a lack of public awareness of the whole issue.
fhnw.procedureThis paper relies on desk research entirely. The regulatory framework with regards to insider trading is established for both the United States and Switzerland. The paper further tackles the approaches for detecting insider trading activities. In conclusion of the regulatory framework, the loopholes are subsequently identified. A few of the most well-known insider trading cases are then analysed to confirm the findings of the loopholes.
fhnw.resultsThere is considerable evidence in favor of the thesis . The introduction of the Swiss insider norm happened due to significant pressure of the United States. The result was the introduction of StGB 161, a legal article that was highly unsuccessful thus far. The legal authorities even call it a Lex Americana. The paper also finds that the prosecuting authorities may not yet possess the necessary expertise for pursuing illegal insider trading. In addressing the existing loopholes and showing some possible ways of improvement, this paper helps to foster the integrity of the markets.
fhnw.IsStudentsWorkYes


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