One: Introduction. Two: Markets, Firms and Publicly Held Corporations. Three: Securities Regulations, Market Efficiency, and the Role of the SEC. Four: The Law of Insider Trading. Five: The Empirical Literature on Insider Trading: an Overview. Six: Insiders and Outsiders: an Empirical Analysis of Price and Volume Runups Preceding Tender Offer Announcements. Seven: Public Policy towards Insider Trading: a Proposal for Decriminalization. References. Index.