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Insider Trading


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number



Overview/Description
Illegal insider trading is harmful to the marketplace and can seriously undermine investor confidence. This course will explore the laws that govern the trading of stocks and other securities by corporate insiders and describe the role the Securities and Exchange Commission plays in enforcement. It will also discuss the civil and criminal penalties for insider trading and the procedures for reporting illegal behavior. This course was developed with subject matter support provided by the Labor, Employment, and Employee Benefits Law Group of the law firm of Sheehan Phinney Bass + Green PA. Please note, however, that the course materials and content are for informational purposes only and do not constitute legal advice. Nothing herein, or in the course materials, shall be construed as professional advice as to any particular situation or constitute a legal opinion with respect to compliance with any federal, state, or local laws. Transmission of the information is not intended to create, and receipt does not constitute, an attorney-client relationship. Readers should not act upon this information without seeking professional counsel. The information contained herein is provided only as general information that may or may not reflect the most current legal developments. This information is not provided in the course of an attorney-client relationship and is not intended to constitute legal advice or to substitute for obtaining legal advice from an attorney licensed in your state.

Target Audience
Managers, supervisors, and employees

Expected Duration (hours)
0.5

Lesson Objectives

Insider Trading

  • distinguish between legal and illegal insider trading
  • recognize the purpose of pension fund blackout periods under Section 306(a) of the Sarbanes-Oxley Act (Regulation BTR)
  • recognize the purpose of Regulation FD
  • recognize the importance of encouraging and protecting those who report insider trading
  • Course Number:
    lchr_01_a32_lc_enus