Insider Trading: a evolução legislativa da violação de sigilo nas grandes sociedades anônimas

The regulation of the capital market in Brazil does not have solidity and doctrinal unanimity about its devices. Therefore, the study of one of the illicit crimes in the Brazilian legal system is interesting to analyze how prevention and repression of crimes against the capital market has been developed. The insider trading affects not only the investor who does not have access to inside information, but the entire market because it undermines the confidence of those who trade in it. This monograph discusses the norms that constitute the prevention and repression of insider trading, in order to understand what they represent and how they have evolved to strengthen the protection of the capital market, noting not only the legislation itself, but recent cases that have been judged by the Comissão de Valores Mobiliários-CVM and the path that the laws surrounding the crime in question are taking in this strengthening.