Posted on Mar 12, 2023
SVB Chief Sold $3.6 Million in Stock Shortly Before Bank's Collapse
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Banking
Edited >1 y ago
Posted >1 y ago
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I see federal charges in his future....
Insider Traiding
Insider trading is the trading of a company’s securities by individuals with access to confidential or material non-public information about the company. Taking advantage of this privileged access is considered a breach of the individual’s fiduciary duty.
A company is required to report trading by corporate officers, directors, or other company members with significant access to privileged information to the Securities and Exchange Commission (SEC). Federal law defines an “insider” as a company’s officers, directors, or someone in control of at least 10% of a company’s equity securities. Congress has criminalized these insiders’ use of non-public information under the theory that the use fraudulently violates a fiduciary duty with which the company has charged the insider.
Insider Traiding
Insider trading is the trading of a company’s securities by individuals with access to confidential or material non-public information about the company. Taking advantage of this privileged access is considered a breach of the individual’s fiduciary duty.
A company is required to report trading by corporate officers, directors, or other company members with significant access to privileged information to the Securities and Exchange Commission (SEC). Federal law defines an “insider” as a company’s officers, directors, or someone in control of at least 10% of a company’s equity securities. Congress has criminalized these insiders’ use of non-public information under the theory that the use fraudulently violates a fiduciary duty with which the company has charged the insider.
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The Inventor: Out for Blood in Silicon Valley (2019) | Official Trailer | HBO
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