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re: The SEC has charged Houston resident with insider trading by spying on wife's Zoom calls
Posted on 2/25/24 at 9:04 pm to rickgrimes
Posted on 2/25/24 at 9:04 pm to rickgrimes
He had material non public information. Case closed.
Posted on 2/26/24 at 7:04 am to slackster
quote:
Congress is subject to insider trading laws too, but I too think they need to be held in blind trusts or at least restricted to ETFs/mutual funds.
Yes and no. The STOCK (Stop Trading on Congressional Knowledge) Act requires them to report trades and "prohibits" using non-public information for private profit, but they police themselves and it's doubtful anyone would ever be charged with insider trading as it would then become a massive political football which would likely impact every major player in both parties in both chambers of Congress.
So there is a law, but it's so likely that it will never be enforced that it may as well not exist.
Posted on 2/26/24 at 11:18 am to evil cockroach
I wonder if he got stuck with a Large Trader ID without realizing. His flows would stick out like a sore thumb once that happens.
This post was edited on 2/26/24 at 11:19 am
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