Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Insider
1. Securities. A person who has knowledge of facts not available to the general public.
insider dealing
See INSIDER TRADING.
insider information
See INSIDE INFORMATION,
insider preference
A transfer of property by a bankruptcy debtor to an insider more than 90 days before but within one year after the filing of the bankruptcy petition.
insider report
A monthly report that must be filed with the SEC when more than 10% of a company's stock is traded. 2. A written account of a court proceeding and judicial decision <the law clerk sent the court's report to counsel for both sides>.
insider trading
The use of material, nonpublic information in trading the shares of a company by a corporate insider or other person who owes a fiduciary duty to the company. ( This is the classic definition. The Supreme Court has also approved a broader definition, known as the "misappropriation theory": the deceitful acquisition and misuse of information that properly belongs to persons to whom one owes a duty. Thus, under the misappropriation theory, it is insider trading for a lawyer to trade in the stock of XYZ Corp. after learning that a client of the lawyer's firm. is planning a takeover of XYZ. But under the classic defmition, that is not insider trading because the lawyer owed no duty to XYZ itself. - Also termed insider dealing.
temporary insider
A person or firm that receives inside information in the course of performing professional duties for a client. Generally, that person or firm is subject to the same proscriptions as an insider.2. One who takes part in the control of a corporation, such as an officer or director, or one who owns 10% or more of the corporation's stock. 3. Bankruptcy. An entity or person who is so closely related.to a debtor that any deal between them will not be considered an arm's-length transaction and will be subject to close scrutiny.