In Salman, the Supreme Court adopted the Ninth Circuit's interpretation, finding that an insider-tipperreceives a personal benefit where the tipper makes a gift of inside information to a trading relative orfriend, and rejecting the additional requirements imposed by the Second Circuit in United States v.Newman.Critically, discuss Salman v. United States 1 580 U.S., 137 S. Ct. 420 (2016) as it relates to insiderdealing in the USA. You are required to discuss the law before Salman, namely a review of the"Classical", The "Misappropriation" Theory and the "Deceptive Device" or "AffirmativeMisrepresentation" Theory. Did Salman establish a new prescedent as it relate to insider dealing?Students will be assessed using a short answer assignment in the form of a case study. The case studywill be assigned by the CI and covers a variety of course objectives outlined in the course |modules. Students are expected to provide an in-depth analysis of the case provided. They will berequired to analyze the facts, identify key legal issues with supporting opinions, and arguments.Students will write a case analysis between 2000-3000 words. A bibliography containing allrelevant citations in the current APA format must be included.

Insider trading is a form of securities fraud that occurs when someone trades on material nonpublic…

Answered: In Salman, the Supreme Court adopted…

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