Abstract
The purpose of this article is to clarify non-equitable market practices and crimes against the securities market, especially the practice of front running, in addition to point cases in which individuals acted illegally and indicate the damages to the market that this practice has caused. It also explains the possible criminal and administrative sanctions applied to the practice of front running presently in Brazilian law and whether using HTFs is considered a way of front running. The conclusion is that the practice of front running affects the proper functioning of the securities market. It damages the liquidity of assets and the parity of information principle through the inappropriate use of inside information. In addition, there is an appeal for hardening custodial sentences on crimes against the securities market, as it has greater coercive power than regular fines.
Highlights
Assim como na esfera civil da vida em sociedade, o mercado financeiro, infelizmente, também é constituído de costumes que resultam em danos ao seu funcionamento
administrative sanctions applied to the practice of front running
whether using HTFs is considered a way of front running
Summary
Assim como na esfera civil da vida em sociedade, o mercado financeiro, infelizmente, também é constituído de costumes que resultam em danos ao seu funcionamento. Faz-se cognoscível, portanto, de que o mercado de valores mobiliários brasileiro, em outras palavras, é superintendido pelo ordenamento jurídico nacional, o qual os órgãos reguladores buscam executar, a fim de inibir práticas que aviltem os princípios de seu bom funcionamento.
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