As a former SEC Senior Trial Counsel now in the defense bar, I am often asked if there is some kind of de minimis exception to securities fraud, especially with respect to insider trading. What, people ask, if I only make a really tiny amount of money? Would the SEC
OPINION: Just a small fraud – who would notice?
Howard Fischer considers the recent case of SEC v Vakil and answers the question of whether just a little bit of insider trading is OK?