Roya Behruzi, ‘Investigating the Element of Fault in the Civil Liability of Holders of Confidential Information’

Violation of legal obligations by any group of holders of confidential information of the company causes guilt for the said. There are often complexities and challenges in finding the culprit and identifying the culprit and responsible, including; If false information is published and the publisher and his managers are not aware of it, should these people be held solely liable for damages? Or, should we restrict the holders of confidential information from those investigated in previous investigations, or should other officials be classified as holders of confidential information whose fault has led to civil liability? In answer to the first question, it seems that in the case that the company’s officials were not aware of the fact that the information was not true, the assumption of responsibility of these people is closer to justice than the theory of pure responsibility, and in response to the second question; officials such as members of parliament, parliamentary committees, government, ministries, and in general individuals involved in major and effective decisions on the profitability or loss of industries and listed companies also have access to information due to their duty that , according to paragraph 30 of Article 1 Stock Exchange Law is inside information. Therefore, it seems that these people should also be considered in the group of inside information holders and committing acts that the legislature has forbidden to other inside information holders should also be considered as an example of guilt by this group.

Behruzi, Roya, Investigating the Element of Fault in the Civil Liability of Holders of Confidential Information (April 8, 2022).

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