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How would a six figure fine help? If I made 125k for a few mins of insider trading work, and I get fined 100k, I still made 25k profit, right?
by akudha 4y ago
How would a six figure fine help? If I made 125k for a few mins of insider trading work, and I get fined 100k, I still made 25k profit, right?
- cwkoss 4y agoShould be a multiple of profit, not a flat amount. Or else, it just means the richest representative can still exploit it profitably.
- fragmede 4y agoFwiw, Kim Kardashian (I know) was fined $1.26 million for pushing crypto, despite only getting paid $250k for the appearance, which is either a lot or a little depending on how you look at it, but fine > payment, so the concept isn't foreign to the SEC.
- JamesianP 4y agoDon't know about details of the STOCK act, but for general financial crimes there's a lot more than fines they can impose. There's also restitution, forfeiture, and disgorgement. It isn't like violent crimes which can't be undone.