Insider training is one of the most serious violations according to the SEC. This white-collar crime can occur anywhere, including in Florida. There are serious consequences if you engage in this crime, so it is important to understand exactly what it is so that you can avoid getting involved. Continue reading below to learn more information about insider trading and steps to take if you get involved in this activity.
What is insider trading?
Insider trading is one of many serious white-collar crimes that involve the exchange of security while breaking some level of trust or duty. You are literally giving someone else or buying from someone, through purchase, private information about this security detail. You could violate insider trading laws if you even just give or receive a tip or if the information you give is inaccurate.
Get more specific
The SEC prosecutes many individuals involved in insider training. There are various examples that have arisen from SEC cases such as:
- Corporate employees trading business secrets
- Partners of corporations trading business information after a deal
- Government employees giving away government information
- Friends and family members trading information from their loved ones who work at a corporation or for the government
- Intelligence employees sharing information they learned
What to do
If you work for a government entity or corporation or you know someone who does, there is a chance that you may engage in insider training. White-collar crimes such as this have consequences including jail time behind them. If you engage in insider trading, you may want to contact a lawyer with experience in white-collar crimes as soon as possible to get the defense you need.