Insider Trading Case Reminder of Long-Simmering Parent-Child Privilege Debate

Wall Street Lawyer

December 2016

History is replete with examples of the law intersecting with the relationship between parents and their children, sometimes in heartbreaking ways. Wall Street, of course, has served as a frequent backdrop for family legal dramas, pitting family members against each other, often in cases of financial fraud. In many cases, judges, juries and prosecutors must decide what special status, if any, to afford parent-child conversations. 

The debate about the parent-child privilege pits important competing policy goals against each other: an unfettered search for the truth on the one hand, and a desire to foster trust and candid conversations between parents and their children on the other hand. So far, the former has been favored by courts and legislators. But the debate is not likely to end anytime soon and will continue to play out in courts across the country.

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