Would this qualify as illegal insider trading?

[wheresmymind]

@skdo23

Also, the sequel contained several scenes where Shia LaBeouf was in a subway station or walking down the street, and yet nobody attempted to push him in front of a train, car, etc.

clap clap clap

[hogarth]

@md2000

So.. (based on the quoted Canadian law)
if the secretary told you, that’s an insider tip.

Maybe, maybe not. It is not true that if Company X does business with Company Y, then it’s inside trading every time a Company X employee buys shares in Company Y. An investment bank, for instance, would generally have a “Chinese wall” structure in place to prevent inside information from spreading from one group to another.

(I am not a lawyer. I work for a bank and we have to pass a quiz on this stuff every year.)

[md2000]

@hogarth

Maybe, maybe not. It is not true that if Company X does business with Company Y, then it’s inside trading every time a Company X employee buys shares in Company Y. An investment bank, for instance, would generally have a “Chinese wall” structure in place to prevent inside information from spreading from one group to another.

(I am not a lawyer. I work for a bank and we have to pass a quiz on this stuff every year.)

But if the employees deduce it based on semi-private infor (liek a visitors’ list)?

How about employees twice removed, like the caterer for the hotel or office where the guests have thier work discussions?

[sisu]

@Hilarity_N.Suze

IANAL but I had to research case law on this issue once, and based on what I found back then, you’d be okay.

The specific case was a young man whose father worked for the company. He profited. His father did not profit.

Sorry, I don’t remember the case. Sometime in the '90s I think. Things could have changed, other courts could interpret it differently, my research could have been insufficient, etc.

Those damn Bush’s…