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Yea but they can cancel those trades at any time. They can set up a weekly sale of a huge chunk of stock, cancel it every week while the company is doing fine,
by jliptzin 9y ago
Yea but they can cancel those trades at any time. They can set up a weekly sale of a huge chunk of stock, cancel it every week while the company is doing fine, then right before a terrible quarter hits, allow the sale to go through. This does not stop insider trading.
- lovich 9y agoIs it that simple? I thought the SEC didn't fuck around just because people found a loophole, like with them recently classifying ICOs as securities
- xyzzy_plugh 9y agoThe general advice I've heard is not to do this sort of thing. It's a loophole and when the SEC inevitably catches you, you are boned. If it's obviously a loophole to you and me, then what do you imagine the SEC think?