Insider Trading

The course provides a comprehensive overview of insider trading regulation in the United States. In addition to a thorough discussion of Rule 10B5-1 and Regulation M, the class also examines use vs. possession issues as well as court decisions and affirmative defenses. Regulatory surveillance frameworks and current legal trends are also discussed.

20-Apr-2012 -- 20-Apr-2012New YorkUSD$1575
NY Institute of Finance - Midtown9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ William Jannace; ] Fri Level: Basic

CPE CREDITS
7.0
Compliance staff, branch office managers, attorneys, auditors, traders, exchange personnel, and other supervisory staff
No advance preparation required.
Students will be able to:
  • Understand Rule 10B5-1
  • Define misuse of confidential information
  • Differentiate between use vs. possession of confidential information
  • Provide affirmative defenses to insider trading
  • Demonstrate familiarity with surveilance procedures and parameters
  • Discuss Regulation M
  • Understand procedures of SRO examinations and SEC oversight
A basic knowledge of compliance would be helpful.
  • Rule 10b5.1 - Trading
  • What information is material?
  • Definition of non-public information
  • Intent to deceive-scienter
  • Scienter and illicit benefit
  • Analysts' misuse of confidential
  • Use vs. possession of insider information
  • Promulgation of 10b5.1
  • The affirmative defenses allowed by Rule 10b5.1
  • Court decisions since the adoption of Rule 10b5.1
  • Big boy letters
  • SRO and SEC surveillance of insider trading
  • Surveillances
  • Insider trading/manipulation surveillance - review
  • Regulation M
  • Trends/Observations
  • Investigations and referrals to the SEC
  • SRO Examination
  • Interaction with other regulators and market participants

Clients who register for this course will receive a complimentary 4-month subscription to FT.com. The Financial Times is the world's most respected financial newspaper, providing a broad assessment on finance, business and the industrial sector. The move to the electronic version follows an ongoing review of our environmental responsibilities as a global business and as part of the Pearson group. FT.com also has features that are not available in hard copy, such as: Special Reports, Alphaville, editor blogs, education sections and much more! Subscriptions will start within 6-8 weeks of the start of class and are limited to one subscription per client. (Please note: as of May 1, 2011, the electronic subscription replaces the hard-copy 3-month Financial Times subscription.)

Lunch is included for all students taking day classes.