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The Ethics Of Insider Trading In Major League Baseball

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Introduction: Insider trading is when someone with privileged information about the internal, non-public information and materials about a public company trades in the stocks or securities of the company. This can be legal if the trade is reported to the regulatory body, Securities and Exchange Commission, SEC, but if not reported, it is illegal and can lead to prosecution and consequences as the trade can affect other investors (Rathburn, 2023). What limits should there be on insider trading? It's important to note that insider trading regulations vary across different jurisdictions. The specifics of what constitutes insider trading and the penalties associated with it may differ. However, the general principle of preventing unfair advantages and maintaining market integrity remains consistent. Here are a few reasons why there should be limits on insider trading: 1. Fairness: Insider trading undermines the fairness and integrity of the financial markets. It gives leverage …show more content…

It's important to note that the professional baseball Major League Baseball, MLB has taken a firm stance against gambling on baseball due to its potential to influence the integrity of the game. The league has implemented strict rules to prevent players, coaches, and officials from engaging in any form of betting on baseball. Gambling on a game by someone that has controlling interests like a player or a coach is dicey because it is a type of insider trading. In the 70s baseball circles, Pete Rose was known to have had gambling problems and in 1989, it was revealed that he was not only betting on baseball and horse racing only but also on his own team while he was the manager of the team, Cincinnati Reds and as punishment, he received a lifetime ban from the game (History.com,

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According to Anderson, William. B’s article “Saving the National Pastime's Image: Crisis Management during the 1919 Black Sox Scandal” wrote about how the Major League Baseball managed the Black Sox Scandal, and the creation of the first media office in the professional industry. Even thought the MLB already hired media specialists, they could not manage the Black Sox Scandal. After the foundation of the commissioner system, the commissioner talked what happened in the MLB, so it made the press office. This is a important article for the Black Sox Scandal, this article showed another result of the Black Sox Scandal.

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“ Any player, umpire, or Club or League official or employee, who bet any sum whatsoever upon any baseball game in connection with which the bettor has no duty to perform, shall be declared ineligible for one year. (2) Any player, umpire, or Club or League official or employee, who shall bet any sum whatsoever upon any baseball game in connection with which the bettor has a duty to perform, shall be declared permanently ineligible” ("A hundred")(Andrews). The Commissioner put an end to the Scandal, the cheater's career, and to all future cheats involving

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It has been 26 years since Major League Baseball banned Pete Rose from the sport for life. In February of 1989, Rose was questioned by then retiring commissioner Peter Ueberroth amid gambling rumors against baseball’s all-time hit king. Rose denied the allegations, but on April 1, 1989, the IRS seized betting slips with Rose’s name, writing and finger prints on them. MLB announced it would launch a full investigation, which resulted in a 225-page report from investigator John Dowd known as the “Dowd Report”. The report, which was the equivalent of a baseball death sentence, outlined Rose’s gambling activities in full detail.

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