The debate on the regulation of insider trading has existed for several decades and it remains unresolved to date. For instance, proponents for the deregulation of insider trading argue that it should not be treated as an offence while proponents for the regulation of insider trading contend that it is an offence that could, inter alia, give rise to a host of problems such as poor market efficiency, poor market integrity and low public investor confidence in the financial markets of any country. It appears the Zimbabwean policy makers also view insider trading as an offence in the Zimbabwean financial markets. Consequently, insider trading is currently outlawed in Zimbabwe. Notably, insider trading is mainly prohibited to enhance public investor confidence, market efficiency and market integrity in the Zimbabwean financial markets. Accordingly, insider trading activities are statutorily prohihited in Zimbabwe under the Securities Act 17 of 2004 [Chapter 24:25] as amended (Securities Act). Given this background, the article investigates the merits and demerits of the insider trading regulation and deregulation debate. The authors submit that adequate insder trading laws that are consistently enforced by the relevant enforcement authorities and other key role-players could effectively combat insider trading activities in the financial markets of any country.

中文翻译：

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津巴布韦内幕交易监管的利弊

关于内幕交易监管的争论已经存在了几十年，至今仍未解决。例如，内幕交易放松管制的支持者认为不应将其视为违法行为，而内幕交易监管的支持者则认为这是一种违法行为，除其他外，可能会引发一系列问题，例如市场效率、市场完整性差以及公众投资者对任何国家金融市场的信心低下。津巴布韦政策制定者似乎也将内幕交易视为津巴布韦金融市场的犯罪行为。因此，目前津巴布韦禁止内幕交易。值得注意的是，禁止内幕交易主要是为了增强津巴布韦金融市场的公众投资者信心、市场效率和市场完整性。因此，根据经修订的 2004 年第 17 号证券法 [第 24:25 章]（证券法），津巴布韦法定禁止内幕交易活动。鉴于此背景，本文调查了内幕交易监管和放松监管辩论的利弊。作者认为，相关执法机构和其他关键角色一致执行的适当内幕交易法律可以有效打击任何国家金融市场中的内幕交易活动。