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If someone "advises" you that a company is about to do something major, and this isn't public information, and you take action on the stock market accordingly,
by samatman 3y ago
If someone "advises" you that a company is about to do something major, and this isn't public information, and you take action on the stock market accordingly, that's insider trading.
- science4sail 3y agoUS Congress members are generally immune from insider trading laws
- jjtheblunt 3y agoBy law they’re not protected at all since 2012. But SEC curiously seems to ignore them, and congresspeople are experts in exercising loopholes in SEC regulations. https://en.wikipedia.org/wiki/STOCK_Act https://en.wikipedia.org/wiki/STOCK_Act For instance, Pelosi in the Databricks case gets to purchase significant shares at pre-IPO prices, which is a thing that shouldn't even exist.