What is the rule for insider trading before news release?

Answers:1   |   LastUpdateAt:2012-08-15 02:44:02  

Question
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Asked at 2012-06-29 16:38:02
Is there a specific time during which an insider cannot trade before a news release? I have heard that it is 30 trading days, but I cannot confirm that. I am particularly interested in Canadian law, but also US.
Answer1TonniAnswered at 2012-08-15 02:44:02
The SEC frowns about the operation of this type and is a practice that many brokers (and others) will find themselves paying fines , etc., if they fall into the habit and are caught in the act . Think Martha Stewart, traded on the advice of his agent and his reward.

Therefore, the trade when the news is in the public domain , either in Canada or the U.S.
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