So? Are you implying then that not only does there need to be a ban, it also needs to apply to immediate family members? Where does it stop? in-laws? cousins? Neighbors? How is that supposed to be enforced?
I was under the impression that staff at banks that do trading already have a very stable and accepted system for this. And are very good at enforcing it.
Its not unclear. Sometimes difficult to enforce but borders are easy to define:
"In 1984, the Supreme Court of the United States ruled in the case of Dirks v. Securities and Exchange Commission[25] that tippees (receivers of second-hand information) are liable if they had reason to believe that the tipper had breached a fiduciary duty in disclosing confidential information. "