The legal safeguard against insider trading is of recent origin in Indian context. The USA has been the first country to have enacted securities law and put in place the Securities Exchange Commission, way back in the year 1933. Even though the law relating to insider trading in India has come about in the 1990s, yet the law is not foolproof, and has failed to take notice of some of the salutary provisions that exist in the US and UK laws. This article deals with the concept of insider trading by comparing the Indian law with the laws in the US and UK in this behalf. Introduction This paper has been written with the purpose to understand what insider trading is? The paper does not attempt to go into the ethical or moral aspect of insider trading. We do not attempt to know whether insider trading should be made an offence or should the import of the judgment in the old English case of Perceival v. Wright (1902) 2 Ch 421 be reinstated. Insider tradi ....