I almost proposed a Fifteenth Law of Insider Trading, “if you settle with the SEC over your insider trading, make sure you settle over all your insider trading,” but honestly I have no idea if that’s right. (Not legal advice! Consult a lawyer!) Like if the SEC comes in and says “we caught you insider trading those options, pay up,” and you say “oh, those options, you got me, here you go,” and later they find out that you also traded a bunch of stock offshore, they will not be pleased and will come back for more. But they might not find out! And if instead you say “the options? What about all that stock I traded in my offshore accounts,” they will not necessarily be thrilled with you either.
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