Re:Equifax takes down web page after reports of new hack
by leggomylibro on Thursday October 12, 2017 @06:00PM
(#15461647)
Unfortunately, the SEC might notice if those executives sold a bunch of shares on insider info, quit, and then bought more shares after the crash.
I guess they probably wouldn't do anything, but they might notice.
Re:Equifax takes down web page after reports of new hack
by astura on Thursday October 12, 2017 @06:25PM
(#15461793)
They absolutely should notice and investigate (and I think they are) even the initial sale, I don't see how that's not insider trading.
Re:Equifax takes down web page after reports of new hack
by leggomylibro on Thursday October 12, 2017 @06:28PM
(#15461815)
It pretty clearly is, I just mean that in reality that sort of thing isn't going to be prosecuted or pursued.
Re:Equifax takes down web page after reports of new hack
by poooogles on Thursday October 12, 2017 @07:18PM
(#15462137)
That is incorrect. The SEC regularly pursue people for insider trading [1]. It's one of the things that's normally pretty clear cut and hard for politicians to lean on.
Re:Equifax takes down web page after reports of new hack
by leggomylibro on Thursday October 12, 2017 @08:44PM
(#15462553)
I guess I'm just getting jaded about the scale; when you reach a certain dollar amount, there don't seem to be consequences at all. I'm sure I would get busted for insider trading if I tried it, but my company's CEO damned sure wouldn't.
Not that it'd be easy since you have to schedule big sales like that with the feds in the first place, but I mean...come on. The sheer blatancy.
So you sell right before the dip and then buy again at the bottom of the dip. They knew there was going to be a dip.