A utilização da prova indiciária no crime de abuso de informação privilegiada

: insider trading

Abstract

The present project aims to study the use of circumstantial evidence in the crime of insider trading in the securities market. We thus began our study with a brief reference to the legislative evolution of crime in the Portuguese legal system, in order to understand how the assumptions of incrimination became less demanding. Next, we make an analysis of the assumptions of incrimination in the current wording of the article 378º in the Securities Market Code, with special focus on the definition of inside information, taking into consideration that the requirements were subject to doctrinal densification. After acknowledging the real difficulties in proving the existence of a crime, namely, regarding the effective use of privileged information on the basis of the agent's conduct, we come to the key point of our work: the use of circumstantial evidence in the crime of insider dealing. Finally, we turn to the question of the admissibility of circumstantial evidence in the crime of insider trading in the Portuguese legal system and its assumptions, in relation to the existence of evidence and the judgment of inference that in respect of these must be done, through the analysis of two jurisprudential decisions.

Date of Award	2 Nov 2017
Original language	Portuguese
Awarding Institution	Universidade Católica Portuguesa
Supervisor	Sandra Tavares (Supervisor)