The recent decisions in the field of securities transactions do not significantly change the legal standards, but they do create an increased awareness of the problems and the limits imposed upon the financial community. It is well established now that a broker's duties to the investing public take precedence over any conflicting duties to his customers or advisees to whom he only owes a duty not to defraud them or profit at their expense. The broker further has a duty to prevent his clients from profiting at the expense of the uninformed public.
James K. Weeks & Jeffrey V. McCormick, Broker-Dealer Disclosure of Corporate Inside Information, 18 Clev.-Marshall L. Rev. 549 (1969)