With expansion of business a form of trading that has received substantial attention in recent years is insider trading. Insider trading is the use of material non public information in trading the shares of the company by a corporate insider, such trading is illegal. All countries in the world with a major stock exchanges have made this practice illegal because of its potential to devastate public confidence. This article aims to make a comparison of the legal regime in insider trading laws, penalties in major economies of the world, with special reference to India. Keyword: Corporate insider, Undisclosed price sensitive information, Illegal