Can you believe this! The Securities and Exchange Commission is investigating its own employees. It's gotten so bad that the SEC had to establish new rules for employee trading. Right now the SEC has at least two employees under investigation for possible insider trading. The FBI had to be notified and may also be called in to conduct investigations of possible insider trading.
Would you believe that employees can trade the stocks of companies they are investigating? Yes, as of now that's true. So guess what the SEC is doing to correct the problem? They will employ an outside firm to track employee trading in real time. Another new rule will be that employees cannot trade stocks of companies under investigation and will require them to get clearance before making any trade. From this we can infer that employees have been trading stocks of companies under investigation right along.
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Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
