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A comment on SEC charges Netflix insider trading ring. Parent comment

Re:SEC charges Netflix insider trading ring by mason55 on Wednesday August 18, 2021 @07:21PM (#28228446)
The SEC will send a list to your compliance dept if they see weird trades (e.g. short-dated out-of-the-money calls) and ask if anyone on the list works there. The compliance dept also has a list of people with material non-public info and they get the list of people who made weird trades with the question “do you know any of these people?” If you know one and you didn’t provide them info then you say so because the implied threat is they’ll find out either way that you know one of them.
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Re:SEC charges Netflix insider trading ring by 1-more on Wednesday August 18, 2021 @09:06PM (#28229202)
And the wild thing is that lying to a federal investigator is a crime in and of itself! So don't say you don't know the person they ask about.

18 U.S. Code § 1001 - Statements or entries generally

https://www.law.cornell.edu/uscode/text/18/1001

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Re:SEC charges Netflix insider trading ring by IncRnd on Wednesday August 18, 2021 @09:56PM (#28229478)
That's not exactly true, but to use a turn of phrase - close enough for government business! [1]

The lie is a felony but only when connected to a federal matter. [2] [3] [4]

[1] This used to mean (many moons ago) something of very high quality. However, as our government became ever more like what is _now_ our government, the idiom took on the opposite meaning: good enough to say it's done, so we can move on from it. It's also used to say when something is correct for the discussion but not in the broader sense. Source? My neighbor the FBI agent told me, and I've heard it in action many times since then.

[2] https://www.pagepate.com/experience/criminal-defense/federal...

[3] https://www.justice.gov/archives/jm/criminal-resource-manual...

[4] https://www.mololamken.com/knowledge-Is-It-a-Crime-To-Lie-to...

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Re:SEC charges Netflix insider trading ring by bsder on Wednesday August 18, 2021 @10:33PM (#28229702)
Rule the first: Don't talk to the police.

The SEC and the IRS are police.

Obligatory repost: https://www.youtube.com/watch?v=d-7o9xYp7eE&t=612s

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