Recent reports of Sen. Richard Burr, R-N.C., selling certain stocks after receiving information in a closed-door government briefing highlight an issue important for anyone contemplating securities transactions while in possession of material non-public information: You don’t have to actually use the MNPI to face insider trading charges.
Burr tweeted that his trading was based on publicly available information about the coronavirus rather than anything he learned at the briefing, but that may make no difference to the SEC.
via Sen. Burr’s Stock Trade Argument May Not Hold Water With SEC | ThinkAdvisor.
