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It seems so obvious. I work for a publicly traded company. I am only allowed to purchase stock in the company during certain windows, and IIRC, only in certain
by unethical_ban 5y ago
It seems so obvious.
I work for a publicly traded company. I am only allowed to purchase stock in the company during certain windows, and IIRC, only in certain amounts. I can't trade or play with options related to the stock at any other time.
When I worked for a bank (in IT, but still) there was plenty of training on not making trades on non-public knowledge.
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On one hand, I understand how a blanket ban on stock trading would seem harsh, but it seems there is no alternative given the feckless enforcement of existing insider trading regs in Congress.
They should all be offered a series of mutual fund options with different growth/risk targets, kind of like 401k packages, and that be that.
Pelosi saying "it's a free market" is a non sequitur. It's angering and embarrassing that she is so incompetent or brazenly dismissive of real concerns.
I really hope that we get just enough "clean" politicians in the near future to drive popular will towards more transparency and regulation on the topic.
- rootusrootus 5y ago> I work for a publicly traded company. I am only allowed to purchase stock in the company during certain windows, and IIRC, only in certain amounts. I can't trade or play with options related to the stock at any other time. I assume you are an officer at the company in question? I've never heard of a general restriction on employees buying stock in their own publicly traded company, aside from specific employees in certain positions.
- kevinventullo 5y agoBoth Facebook and Google have these restrictions for every single employee.
- rootusrootus 5y agoSo this is a restriction from the company itself, then, not a law?
- kevinventullo 5y agoI believe the law itself is sufficiently vaguely worded that the companies have opted for a blanket policy to avoid even a hint of impropriety.
- rootusrootus 5y agoInteresting, thanks. TIL. I have never run into such a policy. But I've never worked for Google or FB, either. Interviewing with The Goog next week, however, so there's a 0.01% chance that could change...
- unethical_ban 5y agoNo, the company I work for has two classes of employee based on the expected level of "insider" knowledge, think engineering vs. finance and corporate. All employees are restricted by trading windows. I'm not sure if this is explicitly required by law, or a condition of employment in order to not get anyone in trouble - I don't know how my company would know if I traded on my own, so I assume it's law.