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The SEC will send a list to your compliance dept if they see weird trades (e.g. short-dated out-of-the-money calls) and ask if anyone on the list works there. T

The SEC will send a list to your compliance dept if they see weird trades (e.g. short-dated out-of-the-money calls) and ask if anyone on the list works there. The compliance dept also has a list of people with material non-public info and they get the list of people who made weird trades with the question “do you know any of these people?” If you know one and you didn’t provide them info then you say so because the implied threat is they’ll find out either way that you know one of them.

1-more 5y ago
And the wild thing is that lying to a federal investigator is a crime in and of itself! So don't say you don't know the person they ask about. 18 U.S. Code § 1001 - Statements or entries generally https://www.law.cornell.edu/uscode/text/18/1001 https://www.law.cornell.edu/uscode/text/18/1001
- IncRnd 5y ago
  That's not exactly true, but to use a turn of phrase - close enough for government business! [1] The lie is a felony but only when connected to a federal matter. [2] [3] [4] [1] This used to mean (many moons ago) something of very high quality. However, as our government became ever more like what is _now_ our government, the idiom took on the opposite meaning: good enough to say it's done, so we can move on from it. It's also used to say when something is correct for the discussion but not in the broader sense. Source? My neighbor the FBI agent told me, and I've heard it in action many times since then. [2] https://www.pagepate.com/experience/criminal-defense/federal-crimes/false-statement-charges/ https://www.pagepate.com/experience/criminal-defense/federal... [3] https://www.justice.gov/archives/jm/criminal-resource-manual-916-false-statements-federal-investigator https://www.justice.gov/archives/jm/criminal-resource-manual... [4] https://www.mololamken.com/knowledge-Is-It-a-Crime-To-Lie-to-the-Government-Even-If-You-Are-Not-Under-Oath https://www.mololamken.com/knowledge-Is-It-a-Crime-To-Lie-to...
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- bsder 5y ago
  Rule the first: Don't talk to the police. The SEC and the IRS are police. Obligatory repost: https://www.youtube.com/watch?v=d-7o9xYp7eE&t=612s https://www.youtube.com/watch?v=d-7o9xYp7eE&t=612s

1-more 5y ago

And the wild thing is that lying to a federal investigator is a crime in and of itself! So don't say you don't know the person they ask about. 18 U.S. Code § 1001 - Statements or entries generally https://www.law.cornell.edu/uscode/text/18/1001 https://www.law.cornell.edu/uscode/text/18/1001

IncRnd 5y ago
That's not exactly true, but to use a turn of phrase - close enough for government business! [1] The lie is a felony but only when connected to a federal matter. [2] [3] [4] [1] This used to mean (many moons ago) something of very high quality. However, as our government became ever more like what is _now_ our government, the idiom took on the opposite meaning: good enough to say it's done, so we can move on from it. It's also used to say when something is correct for the discussion but not in the broader sense. Source? My neighbor the FBI agent told me, and I've heard it in action many times since then. [2] https://www.pagepate.com/experience/criminal-defense/federal-crimes/false-statement-charges/ https://www.pagepate.com/experience/criminal-defense/federal... [3] https://www.justice.gov/archives/jm/criminal-resource-manual-916-false-statements-federal-investigator https://www.justice.gov/archives/jm/criminal-resource-manual... [4] https://www.mololamken.com/knowledge-Is-It-a-Crime-To-Lie-to-the-Government-Even-If-You-Are-Not-Under-Oath https://www.mololamken.com/knowledge-Is-It-a-Crime-To-Lie-to...
- deleted 5y ago
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bsder 5y ago
Rule the first: Don't talk to the police. The SEC and the IRS are police. Obligatory repost: https://www.youtube.com/watch?v=d-7o9xYp7eE&t=612s https://www.youtube.com/watch?v=d-7o9xYp7eE&t=612s