This results in an intraday sample that has the exact transaction time for each identified insider trade
in addition to other information available in the SEC data.
4) For these firms and time period, we retained all quarterly earnings announcements where both COMPUSTAT provided an announcement date and the firm bad at least one insider trade
during the period 51 days before to 50 days after the announcement date.
Interprovincial Venture Capital Corporation ("IVCC") is pleased to announce that its wholly owned subsidiary, Forbes, Sheridan & Associates Limited ("FSA"), has been invited to respond to a Request for Proposal ("RFP") for assistance in the design, development, integration and implementation of an insider trade
reporting ("ITR") system issued by CDS Inc.
section] 78j(b) (2012), to which Justice Ginsburg remarked "So what's the difference, if the insider trades
Second, whether an insider trades
on material or valuable but sub-material information, a Section 16(a) report alerts public investors within two days of the trade to the possibility that the insider has private information indicating that the stock is mispriced.
The authors find that more than half of total insider trades
are "routine" and therefore not informative about the associated firm's future prospects.
Moreover, in view of the fact that "a corporate insider trades
on information that is essentially undiscoverable--such as his intuition, based on all of the information available to him" the probability of being caught, if the insider is careful is "virtually zero.
At the same time, much of the excitement about the information content of insider trades
, and of insider sales in particular, turns out to be overdone.
So keeping $100 million in ill-gotten gains and executing insider trades
totaling more than $1 billion are both OK if the SEC says so.
Although all insider trades
must be reported, sales by the president, the chief executive officer and the chief financial officer are the most telling.
Integrated data--Users are able to access company, industry, and insider level data with the click of a mouse, and move easily from insider trades
to Form 144s to insider holdings.
The basic argument is that the agents engaging in prohibited insider trades
obtain their information via fiduciary relationships, and trading on this information for personal gain represents a breach of duty.