13 ms·

weird that he could trade at all in the blackout window. my brokerage won't let me execute any trades (for relevant asset) during our window

elliekelly 8y ago
This stood out to me as well. Most major brokerage firms will not only blackout employee trading of public stock as you've mentioned but will also report transactions to the company's compliance department so the data can be reviewed for potential insider trading activity.
- refurb 8y ago
  Do you mean the firm that manages the retirement plan or incentive comp? Or brokerage firms in general? I don't think my personal brokerage firms knows who I work for.
  - lotsofpulp 8y ago
    All the accounts I’ve opened have asked me for employer’s name and asked me to certify if I was in position to know confidential financials.
    - refurb 8y ago
      Interesting! I've never seen that, but maybe it's more recent? I haven't opened an account in over a decade.
      - elliekelly 8y ago
        Most brokerage firms will ask if you work for a public company or a FINRA-registered firm at account opening. If you didn't directly tell them you're employed by one it's still safe to assume they've gathered the information from your direct deposit information or from source-of-funds information sharing with your other financial institutions. If you work for a FINRA-registered firm they'll send a letter to your employer asking if they'd like your transaction information to be added to the data feed. I'm guessing they can facilitate the same for publicly traded companies and their employees but I've only ever worked on the financial firm side of things so I don't know for sure. Scary huh?
        refurb 8y ago
        Thanks for sharing! I had no idea that information sharing happened. I have seen the FINRA question when opening accounts now that you mention it.
    - usefulcat 8y ago
      Maybe he used a brokerage account that he opened prior to working for Apple?
scarejunba 8y ago
Etrade through where I worked wouldn’t do it. This seems like something that should be tool protected tbh.
toephu2 8y ago
Maybe he used a personal brokerage account not tied to the Apple shares he recv'd from being an employee. That brokage being TD Ameritrade. Anyone here work at Apple? What brokerage does the company use to deposit your RSUs?
- astatine85 8y ago
  Not TD Ameritrade, which is likely why that's where the trades weren't blocked.

elliekelly 8y ago

This stood out to me as well. Most major brokerage firms will not only blackout employee trading of public stock as you've mentioned but will also report transactions to the company's compliance department so the data can be reviewed for potential insider trading activity.

refurb 8y ago
Do you mean the firm that manages the retirement plan or incentive comp? Or brokerage firms in general? I don't think my personal brokerage firms knows who I work for.
- lotsofpulp 8y ago
  All the accounts I’ve opened have asked me for employer’s name and asked me to certify if I was in position to know confidential financials.
  - refurb 8y ago
    Interesting! I've never seen that, but maybe it's more recent? I haven't opened an account in over a decade.
    - elliekelly 8y ago
      Most brokerage firms will ask if you work for a public company or a FINRA-registered firm at account opening. If you didn't directly tell them you're employed by one it's still safe to assume they've gathered the information from your direct deposit information or from source-of-funds information sharing with your other financial institutions. If you work for a FINRA-registered firm they'll send a letter to your employer asking if they'd like your transaction information to be added to the data feed. I'm guessing they can facilitate the same for publicly traded companies and their employees but I've only ever worked on the financial firm side of things so I don't know for sure. Scary huh?
      - refurb 8y ago
        Thanks for sharing! I had no idea that information sharing happened. I have seen the FINRA question when opening accounts now that you mention it.
  - usefulcat 8y ago
    Maybe he used a brokerage account that he opened prior to working for Apple?

scarejunba 8y ago

Etrade through where I worked wouldn’t do it. This seems like something that should be tool protected tbh.

toephu2 8y ago

Maybe he used a personal brokerage account not tied to the Apple shares he recv'd from being an employee. That brokage being TD Ameritrade. Anyone here work at Apple? What brokerage does the company use to deposit your RSUs?

astatine85 8y ago
Not TD Ameritrade, which is likely why that's where the trades weren't blocked.