SEC wins landmark case on shadow trading enforcement action

Shadow trading case extends potential insider trading liability, creating considerable risk for both companies and insiders.

Insider trading is a murky country, whose borders are uncomfortably fluid. And now, they have been greatly expanded by a victory in a case brought by the SEC, SEC v. Panuwat, 21 cv. 6322 (N.D. Cal), creating considerable risk for both companies and insiders.

Insider trading: What is It?

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