Intel CEO Brian Krzanich sold millions of dollars worth of company stock after his company became aware of the Spectre and Meltdown security vulnerabilities, but before they became public.
The Securities and Exchange Commission has a bit of advice for other executives thinking of doing something similar: Don’t.
In new guidelines issued on Wednesday, the agency warned that security breaches and vulnerabilities could constitute “material” information, noting that it’s illegal under US securities laws for insiders to trade stocks based on such information before it becomes public. Such sales may also violate companies’ ethics and insider trading policies.
via SEC issue guidelines regarding disclosure of security breaches – Business Insider
