Preet Bharara Has Some Ideas on How to Stop Insider Trading

A panel led by former federal prosecutor Preet Bharara urged Congress to clarify the law surrounding insider trading, to make it less confusing for traders, judges and regulators.

The biggest problem is the absence of a statute that specifically criminalizes insider trading, the panel said in a report released Monday. Prosecutors and regulators instead are forced to apply decades-old anti-fraud laws and shifting court interpretations.

“There’s a continuing need for clarity and certainty,” said Joon Kim, a member of the panel who succeeded Bharara after his firing by President Donald Trump in March 2017. “There should be a law ...