An algorithm for detecting leaks of insider information of financial markets in investment consulting

Subject. The article examines the laws regulating insider trading. Objectives. The study outlines recommendations for refining Law On Countering the Illegal Use of Insider Information and Market Manipulation and Amendments to Some Legislative Acts of the Russian Federation, № 224-ФЗ of July 27, 2010. Methods. The methodological framework includes a general dialectical method, analysis and synthesis, induction and deductions, and some specific methods, such as comparative and formal logic analysis to specify the definition of insider information, structural logic and functional analysis to improve the mechanism for countering insider trading and market manipulation. Results. We discovered key drawbacks to be addressed so as to improve the business environment in Russia. Although the Russia laws mainly mirror the U.S. laws, they present a more extended list of terms concerning the insider information. I believe the legislative perfection should be continued. Conclusions and Relevance. The study helps apply the findings to outline a new legislative regulation or amend the existing ones, add a new mention on the course of financial markets to students’ books, develop new methods for detecting and countering and improving the existing ones. If all parties to insider relationships use the findings, they will prevent insider trading crimes in financial markets and (or) reduce the negative impact of such crimes on the parties.

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Financial performance and stock prices into delisting companies in MSE

ENERO-JUNIO 2021 - Revista Innovaciones de Negocios ◽

10.29105/rinn10.19-4 ◽

2017 ◽

Vol 10 (19) ◽

Author(s):

Heriberto García

Keyword(s):

Corporate Governance ◽

Financial Markets ◽

Financial Performance ◽

Stock Prices ◽

Stock Exchange ◽

International Financial Markets ◽

Public Companies ◽

Insider Information ◽

Comprehensive List ◽

Governance Practices

Abstract. After the adoption of new regulations in Corporate Governance practices and Transparency following the trend of international financial markets, Mexican Stock Exchange has decreased in number of public companies during the last three decades we explored a comprehensive list of delisted companies during the same period to analyze and understand the motives and reasons of the deregistration process in Mexico. Delisted companies in MSE has experienced low financial performance and unexpected stable stock prices, our resultsare related with systemic flaw in regulation, insider information and the opportunity to the MSE to increase in size and number of public companies.Keywords: corporate governance, financial performance, insider information, regulation transparencyResumen. Después de la adopción de nuevas regulaciones enfocadas a mejor gobierno corporativo y transparencia, la Bolsa Mexicana de Valores ha seguido la tendencia mundial en ambos conceptos sin embargo el número de compañías listadas ha decrecido en las últimas tres décadas. Exploramos las razones y motivos detrás del proceso de cancelación de registro de las compañías en México durante ese mismo periodo para entender mejor su funcionamiento. Encontramos que dichas compañías han tenido un desempeño financiero bajo y un inesperado precio de la acción estable, los resultados sugieren de que es probable que exista fuga de información a nivel sistema y la oportunidad de poder hacer crecer el número y tamaño de las compañías públicas.Palabras clave: desempeño financiero, gobierno corporativo, información privilegiada, regulación, transparencia

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A Settlement Agreement in an Administrative Dispute: Problems of Theory and Tendencies in Law Enforcement

Actual Problems of Russian Law ◽

10.17803/1994-1471.2020.110.1.054-061 ◽

2020 ◽

Vol 15 (1) ◽

pp. 54-61

Author(s):

I. A. Yakovleva

Keyword(s):

Law Enforcement ◽

Financial Markets ◽

Public Event ◽

Insider Information ◽

Foreign Experience ◽

Settlement Agreement

The paper has analyzed approaches to the issue of conclusion of a settlement agreement in administrative cases. The author justifies the possibility of conclusion of the settlement agreement in an administrative dispute. The settlement agreement (a conciliation agreement) serves an evidentiary and compromise function and, in the case of a dispute with the antimonopoly authority, may be resorted to as a means of protecting competition by referring in the text of such agreements to specific acts commission of which or omission to commit which is aimed at securing competition. The paper considers the issue of interrelation between the settlement agreement and the agreement on facts of the case in relation to the evidentiary function of the settlement agreement. There is a tendency to expand the use of the institution of the settlement agreement in order to put an end not only to disputes with antimonopoly authorities, but also to cases contesting cadastral value, tax disputes, as well as cases arising in connection with the change of place and/or time of a public event. It is proposed to use foreign experience with regard to the possibility of conclusion of the settlement agreement in administrative cases initiated due to violations of financial markets legislation and the use of insider information.

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EXPLOITING INEFFICIENCIES IN FINANCIAL AND SPORTS GAMBLING MARKETS: EXPLORATORY DRIFT MODELING

The Journal of Prediction Markets ◽

10.5750/jpm.v2i3.444 ◽

2012 ◽

Vol 2 (3) ◽

pp. 15-32

Author(s):

William Mallios

Keyword(s):

Time Series ◽

Financial Markets ◽

Public Information ◽

Arma Models ◽

Financial Modeling ◽

Insider Information ◽

Sports Gambling ◽

Time Varying Parameter ◽

Market Inefficiency ◽

Individual Series

Cointegrated time series associated with financial and sports gambling markets are analyzed in terms of time-varying parameter models. Parameter drift is modeled in terms of lagged disequilibria. Model forecasts are intended to capitalize on periods of market inefficiency. Modeling premises are that (1) present and past disequilibria—shocks both within and between time series—may affect subsequent changes and rates of these changes within individual series and (2) sufficiently large shocks may disrupt/alter model structure such that resulting forecasts may be temporarily unreliable. Reduced forecasting equations are in terms of higher order ARMA models that are not limited to bilinear processes. Sports forecasting models based on public information are usually more effective—in terms of profitable trading/wagering strategies—than those for the financial sector for two reasons: (1) Insider information is less prevalent. (2) Modeling is simplified since lagged shocks associated with the gambling lines/spreads are known—in contrast with financial modeling where there are no comparable gambling shocks, only unknown, lagged statistical shocks in terms of MA variables. Forecasting is illustrated for NFL and NBA playoff games. In financial markets, cointegration is discussed in terms of candlestick chart variants with modeling illustrations given in terms of recent Google price changes.

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