This Policy Statement implements procedures to deter the misuse of material, nonpublic information in securities transactions. The Policy Statement applies to securities trading and information handling by directors, officers and employees of the company (including spouses, minor children and adult members of their households).
Allegheny Pennsylvania Policies and Procedures Designed to Detect and Prevent Insider Trading
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Allegheny
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US-TC1012
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FAQ
The Securities and Exchange Commission (SEC) is a U.S. government oversight agency responsible for regulating the securities markets and protecting investors.
A person is liable of insider trading when they have acted on such privileged knowledge in the attempt to make a profit. Sometimes it is easy to identify who insiders are: CEOs, executives and directors are of course directly exposed to material information before it's made public.
Introduction. Federal and state securities laws make it illegal for anyone to trade in a company's securities while in possession of material, nonpublic information relating to that company. This conduct is referred to as insider trading and may result in civil or criminal penalties.
The government tries to prevent and detect insider trading by monitoring the trading activity in the market. The SEC monitors trading activity, especially around important events such as earnings announcements, acquisitions, and other events material to a company's value that may move their stock prices significantly.
The government tries to prevent and detect insider trading by monitoring the trading activity in the market. The SEC monitors trading activity, especially around important events such as earnings announcements, acquisitions, and other events material to a company's value that may move their stock prices significantly.
The main argument against insider trading is that it is unfair and discourages ordinary people from participating in markets, making it more difficult for companies to raise capital. Insider trading based on material nonpublic information is illegal.
Insider trading can be punished strictly by civil sanctions, or involve criminal prosecution, or both. Federal law authorizes what are known as treble damages if the SEC brings a civil action against you for violating insider trading rules.
How to reduce the risk of insider trading Conduct due diligence.Take extra care outside of the office.Clearly define sensitive non-public information.Never disclose non-public information to outsiders.Don't recommend or induce based on inside information.Be cautious in informal or social settings.
Obviously, the reason insider trading is illegal is because it gives the insider an unfair advantage in the market, puts the interests of the insider above those to whom he or she owes a fiduciary duty, and allows an insider to artificially influence the value of a company's stocks.