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Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) based on material, nonpublic information about the company. [1] In various countries, some kinds of trading based on insider information is illegal. The rationale for this prohibition of insider trading differs between countries/regions.
SEC Rule 10b5-1, codified at 17 CFR 240.10b5-1, is a regulation enacted by the United States Securities and Exchange Commission (SEC) in 2000. [1] The SEC states that Rule 10b5-1 was enacted in order to resolve an unsettled issue over the definition of insider trading, [2] which is prohibited by SEC Rule 10b-5.
The Stop Trading on Congressional Knowledge (STOCK) Act of 2012 (Pub. L. 112–105 (text), S. 2038, 126 Stat. 291, enacted April 4, 2012) is an Act of Congress designed to combat insider trading. It was signed into law by President Barack Obama on April 4, 2012. The law prohibits the use of non-public information for private profit, including ...
And it’s reigniting insider-trading concerns Nancy Pelosi’s husband dumped 2,000 Visa (V) shares in July — just weeks before the payments giant was sued by the U.S. Department of Justice ...
In a new interview with Yahoo Finance taped on Jan. 27, progressive Congresswoman Alexandria Ocasio-Cortez explained why it's difficult to convince lawmakers to rein their own stock trading.
During a recent appearance on “The Weekly Show with Jon Stewart,” Ocasio-Cortez didn’t hold back on the issue of insider trading in Congress. “It's so crazy … People think that everyday ...
Although insider trading of this kind was illegal, laws prohibiting it were rarely enforced until Boesky was prosecuted. [12] He cooperated with the SEC and informed on others, including the case against financier Michael Milken and, per a plea bargain, received a prison sentence of 3 + 1 ⁄ 2 years and was fined US$100 million. [13]
To be fair, not all insider selling activity is necessarily nefarious. A lot of high-ranking executives receive the lion's share of their compensation in the form of vested shares and stock options.