Markus Thier analyses the complex insider trading law of Japan from a comparative perspective. He finds that the regulations, modelled on U.S. securities law, at the same time can serve as an illustrative example of a legal transplant which remained ineffective in a different Japanese context. Only against the backdrop of a changing context they gradually evolved into an effective Japanese insider regulation regime of its own.

For decades, insider trading regulations did not play a significant role in Japanese law with the result being that Japan for decades was deemed an insider's paradise. Only recently have such regulations gained practical importance and attention in both academic and professional legal circles. Markus Thier's study analyses the complex Japanese situation from a comparative perspective. At the same insider trading regulations serve as an illustrative example of a legal transplant which for considerable time remained "dead law" in Japan. Only recently, against the backdrop of a changing context, the initially unsuccessful legal transplant gradually evolved into an effective Japanese insider regulation regime of its own.

Autorentext
Geboren 1977; Studium der Rechtswissenschaft und der Japanologie in Frankfurt am Main; Referendariat in Frankfurt am Main und Tokyo; Wissenschaftlicher Mitarbeiter am Lehrstuhl für Japanisches Recht und seine kulturellen Grundlagen an der Goethe-Universität Frankfurt am Main; Forschungsaufenthalt am Deutschen Institut für Japanstudien in Tokyo; seit 2013 Rechtsanwalt.