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by mrandish
2237 days ago
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I don't know if it's explicitly part of the regulations but as a former "insider" at a large publicly traded valley tech company, I can say that it's almost certainly against the rather all-encompassing wording of the shit I had to sign that enumerated all the "Thou Shalt Nots" from the regs (as well as watch the insufferably annoying 'compliance training' videos (with interactive quizzes!) Basically, it went far beyond all information about my employer to include ANY "non-public information" about any OTHER company that I might become aware of through my employment, whether directly or indirectly, including (but not limited to) any product plans, business strategies, etc (or lack thereof), I was prohibited from trading on or disclosing to any other person, yada, yada, yada. Since I had, at least, theoretical access to tons of customer data on our servers as well as forecasts based future contract negotiations with our many thousands of huge public co customers... per my attorney's advice, I just held all my company RSUs and put the rest of my portfolio on auto-pilot in a Boggle-headish standard blend of cheap ETFs and never traded any individual stocks. This happened to work out extremely well for me financially as well as simplifying my life and reducing my exposure to lawsuits and regulator scrutiny. It was a combo of luck and the fact that for ten-year time periods, that strategy is actually pretty good. |
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Of course you couldn't personally beneficially trade on information you accessed in the course of your employment (although primarily that would be a breach of your employment terms, not necessarily a breach of the law...)
But that says nothing whatsoever about what you can do with that information to benefit the company.