If you have been accused of insider trading, you should seek out the services of an attorney who specializes in financial regulations. Although most people are familiar with the term “insider trading”, the actual laws associated with the term are confusing and complicated.
If you are a target of the Securities and Exchange Commission, the agency will carefully review your trading patterns and study any paper trails related to your financial dealings. The SEC will spare no expense in securing a conviction if you have shown any trading pattern that looks like insider trading. If the SEC does secure a conviction, you may face extensive jail time, hefty fines and a permanent ban from trading securities in the future.
The actual definition of insider trading is the trading of securities through the use of confidential information. However, not all insider trading is illegal. For example, company executives and directors can buy and sell shares of their company’s stock, but they must register their trades with the SEC through advanced filings. The illegal form of trading is using information that is not public to buy and sell securities.
Since the laws that back insider trading are complex, you need the services of a financial regulation attorney who understands the language behind the laws and how the Financial Industry Regulatory Authority and Securities and Exchange Commission work. A skilled attorney will have experience in working with multiple administrative bodies in multiple jurisdictions.
When the SEC contacts you to answer questions, a skilled insider trading attorney will first gain a complete understanding as to why the SEC is initiating contact with you. The attorney will then determine whether a formal investigation is underway or if the investigation is in its preliminary stages. The bottom line is, if the SEC or another financial regulatory agency contacts you, you should speak to an attorney immediately.
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