Insider-Trading Suspects Can Stay Silent, EU Top Court Rules

Insider-trading suspects have a right to remain silent during the course of an investigation, but aren’t allowed to fully refuse to cooperate with authorities, the European Union’s highest court ruled.

The EU Court of Justice in Luxembourg said the right to remain silent “lies at the heart of the notion of a fair trial,” but this right “cannot, however, justify every failure to cooperate on the part of the person concerned with the competent authorities, such as refusing to appear at a hearing planned by those authorities or using delaying tactics designed to postpone it.”

In an Italian case stretching ...