Comparative legal analysis of the concept of "insider" under the laws of the Russian Federation, the USA and the European Union

The aim of the paper is to analyze the legal category of "insider" under the laws of the Russian Federation, the United States, and the European Union. The authors conclude that one of the central reasons for the lack of an effective mechanism to combat the illegal use of insider information in Russia lies in the unsuccessful definition of the category of "insider" by the legislator. Effective efforts to combat the misuse of insider information are impossible without the legislative changes that would clarify the most basic legal category, on which the responsibility for the above-mentioned offense relies—the category of "insider".