Explain why you believe this is so. This was tried with the Chicago grain futures market. They had to institute rules and controls one after another to try to keep the market free. Too many insider deals were destroying the market, and commerce relied on the market. The market fails, commerce fails, farming fails, and the whole system collapses. Apocalyptical? Not at all, it's the real world.
I'm not staking out some novel or unique position here. Plenty of free-marketeers and liberty-lovers find laws against "insider trading" to be a farce.
As Reason's Brian Doherty wrote on this subject: "Spreading information about a company that might affect its stock price should not be considered any more inherently unfair, illegal, or bad for the economy than tipping someone off about a forthcoming job opening." (
http://reason.com/hod/bd062502.shtml) And as Ilana Mercer wrote at World Net Daily -- you know, that place where actual conservatives hang out -- "Absent a moral obligation to divulge information, criminal charges are a grotesque overreach, a position emphatically reiterated in the Supreme Court's recent decisions. The Supreme Court has maintained that 'there is no duty to disclose nonpublic information.' " (
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=28003)