Alan Strudler says that insider trading has many different types of results including both good and bad. Doubt may be raised about our understanding of insider training. This doubt should trigger concern about the justice of insider training prosecution and about the harsh moral judgments people make of insider trading. This doubt comes from possibly trying to identify the moral wrong in insider trading. There are many arguments for treating insider trading as morally wrong, including the arguments that insider trading is wrong because it is harmful, deceptive, unfair, constitutes theft, or breached fiduciary duties. The argument from harm is not a deontological argument. It states that insider trading is wrong because of the social harm…show more content… For example, an agent has the fiduciary duty of loyalty to his principal. An agent may not compete with the principal regarding the agency business. An agent may not disclose confidential information regarding the principal to a third party during and after the agency relationship has been terminated. Due to the fact that agency relationship is based on trust and confidence, the principal trusts the agent with that information to carry on his job. When an agent discloses confidential information he breaches his fiduciary duties. This occurs a lot in insider trading which causes…show more content… He says imagine that all jurisdictions all at the same time strike from the books all bans on sider trading. Some firms might then make contracts that don’t allow the practice of insider trading, either because they believe that doing so will somehow create a competitive advantage over other firms, or because they find the practice objectionable. Also, the core idea is that insider trading acceptably occurs only if people could legitimately make contracts transferring property rights in inside information from the firm to corporate insiders. These contracts would be unconscionable and be both legally and morally wrong. The contracts could be legally never made. Moreover, insider traders can have no right to use the information on which they trade, their tracks involve deception, as the traditional theory of insider trading