More on Pelosi at the unusual whales web site.
Posted on 01/02/2022 6:46:19 AM PST by Liz
What Is Insider Trading? Insider trading involves trading in a public company's stock by someone who has non-public, material information about that stock for any reason. Insider trading can be either illegal or legal depending on when the insider makes the trade.
Insider trading is illegal when the material information is still non-public, and this sort of insider trading comes with harsh consequences.
KEY TAKEAWAYS Insider trading is the buying or selling of a publicly traded company's stock by someone who has non-public, material information about that stock Material nonpublic information is any information that could substantially impact an investor's decision to buy or sell the security that has not been made available to the public. This form of insider trading is illegal and comes with stern penalties including both potential fines and jail time. Insider trading can be legal as long as it conforms to the rules set forth by the SEC. 1:43 Insider Trading
Understanding Insider Trading The U.S. Securities and Exchange Commission (SEC) defines illegal insider trading as:
"The buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, on the basis of material, nonpublic information about the security."2
Material information is any information that could substantially impact an investor's decision to buy or sell the security. Non-public information is information that is not legally available to the public.
The question of legality stems from the SEC's attempt to maintain a fair marketplace. An individual who has access to insider information would have an unfair edge over other investors, who do not have the same access and could potentially make larger, unfair profits than their fellow investors.
Illegal insider trading includes tipping others when you have any sort of material nonpublic information. Legal insider trading happens when directors of the company purchase or sell shares, but they disclose their transactions legally. The Securities and Exchange Commission has rules to protect investments from the effects of insider trading. It does not matter how the material nonpublic information was received or if the person is employed by the company.
For example, suppose someone learns about nonpublic material information from a family member and shares it with a friend. If the friend uses this insider information to profit in the stock market, then all three of the people involved could be prosecuted.2
The best way to stay out of legal trouble is to avoid sharing or using material nonpublic information, even if you overheard it accidentally.
Examples of Insider Trading Martha Stewart Directors of companies are not the only people who have the potential to be convicted of insider trading. In 2003, Martha Stewart was charged by the SEC with obstruction of justice and securities fraud—including insider trading—for her part in the 2001 ImClone case.
Stewart sold close to 4,000 shares of biopharmaceutical company ImClone Systems based on information received from Peter Bacanovic, a broker at Merrill Lynch. Bacanovic's tip came after ImClone Systems chief executive officer (CEO), Samuel Waksal, sold all his shares of the company. This came around the time ImClone was waiting on the Food and Drug Administration (FDA) for a decision on its cancer treatment, Erbitux.
Shortly after these sales, the FDA rejected ImClone's drug, causing shares to fall 16% in one day. The early sale by Stewart saved her a loss of $45,673. However, the sale was made based on a tip she received about Waksal selling his shares, which was not public information. After a 2004 trial, Stewart was charged with lesser crimes of obstruction of a proceeding, conspiracy, and making false statements to federal investigators. Stewart served five months in a federal corrections facility.3
Amazon In September 2017, former Amazon.com Inc. (AMZN) financial analyst Brett Kennedy was charged with insider trading. Authorities said Kennedy gave fellow University of Washington alumni Maziar Rezakhani information on Amazon's 2015 first-quarter earnings before the release. Rezakhani paid Kennedy $10,000 for the information. In a related case, the SEC said Rezakhani made $115,997 trading Amazon shares based on the tip from Kennedy.---snip---
“...did stock trades by Nancy Pelosi’s husband ever lose??”
Of course not... how do you think she controls the Congress clowns?
Maybe a couple for a tax write-off , LOL
Best investing record the world has ever known.
Stench of corruption: Nancy Pelosi buys Big Tech call options
Contact Judicial Watch
425 Third Street SW
Suite 800
Washington, DC 20024
1-888-JW-Ethic (1-888-593-8442)
Email: info@judicialwatch.org
TALKING POINTS
Taxpayers demand to know who Pelosi is advising WRT pending legislation enriching her and her husband’s stock portfolio.
Subpoena her cell and landline phone records, emails and hard drive and snail mail.
This is how your link ended up; https://www.https//freerepublic.com/perl/post_article/terms/i/insidertrading.asp
Pelosi invested heavily in CrowdStrike, a cybersecurity firm, an arm of the DNC.
Nancy Pelosi just invested heavily into CrowdStrike, a cybersecurity firm that is an arm of the DNC. It was Crowdstrike that claimed DNC was hacked by Russia, but refused to turn over the data and hardware.
DETAILS the House allocated $9 billion to Expand and improve the Technology Modernization Fund....... will help the U.S. launch major new IT and cybersecurity shared services at the Cyber Security and Information Security Agency (CISA) and the General Services Administration and complete modernization projects at federal agencies.
Pelosi invested heavily in CrowdStrike, a cybersecurity firm, an arm of the DNC.
Nancy Pelosi just invested heavily into CrowdStrike, a cybersecurity firm that is an arm of the DNC. It was Crowdstrike that claimed DNC was hacked by Russia, but refused to turn over the data and hardware.
DETAILS the House allocated $9 billion to Expand and improve the Technology Modernization Fund....... will help the U.S. launch major new IT and cybersecurity shared services at the Cyber Security and Information Security Agency (CISA) and the General Services Administration and complete modernization projects at federal agencies.
Washington passes ‘laws’ to protect themselves, their greed, advantage and privilege. What they’re doing is ‘legal’ because they make the laws.
There’s a Reason Pelosi Doesn’t Want Stock Restrictions on Lawmakers: Just Look at What Her Own Family is Doing
House Speaker Nancy Pelosi (D-CA) was asked in a press conference earlier this month whether members of Congress should be allowed to trade individual stocks, despite often having access to insider information.
Pelosi was all in favor of it, saying “We’re a free-market economy” and that members of Congress “should be able to participate in that.”
REPORTER: “Should members of congress and their spouses be banned from trading individual stocks while serving in congress?”
PELOSI: “No…We are a free market economy. They should be able to participate in that.” pic.twitter.com/2SNqSCwFEU
— Townhall.com (@townhallcom) December 15, 2021
Turns out that within a few days of that, Pelosi and her husband Paul bought millions in call options for Google, Salesforce, Roblox, and Disney stocks.
Some are raising questions WRT Speaker Pelosi using her powerful position to slow-walk legislation that could profit her family finances.....for example, she could even be holding back legislation that adversely impacts tech firms she and her husband are invested in.
Paul Pelosi runs Financial Leasing Services, a real estate and venture capital investment and consulting firm. In recent years he’s made big-money bets on companies his wife is supposed to regulate, including Amazon, Apple, and Google.
Yet when Wolf Blitzer questioned her motives, she used the old reliable “compassionate “Democrat dodge about “feeding the poor.”
Hillary beats everyone on the short term market investing scam... She turned a few thousand into $100,000 in 6 months. With the ‘help’ of someone who wanted help from Billy Boy.
GOPJ wrote: Washington passes ‘laws’ to protect themselves, their greed, advantage and privilege.....because they make the laws........ What they’re doing is ‘legal’
So was Congressional check kiting ......until we had our say on that.
REFERENCE There were at least 500 instances in the last 10 years of his scam, when Madoff account statements showed large blocks of stock bought or sold at prices that did not match the stock’s trading range for the day when the transactions supposedly occurred.
WE NEED TO CHECK THIS OUT VIS A VIS PELOSI.
MGD had a great aunt who was had been a “Carny”.
I met her once before she passed...a large, amiable woman with a booming laugh. Sweet as honey and yet tough as nails.
Of her life in the traveling show she used to say...”You might win, but I never lose.”
Life in America has been one Big Show
Similar with Dianne Feinstein. Eve can’t leave the senate as it provided her some unofficial but effective (thus far) protection from prosecution. She’ll probably be entombed there like Lenin
Cbsnews.com
circa 2011
Pelosi and visa
As Steve Kroft reported on “60 Minutes,” Pelosi is one of many lawmakers whose stock market trades could have been seen as a conflict of interest. The former speaker and her husband have participated in at least eight IPOs, one of which was from Visa in 2008 - just as a troublesome piece of legislation that would have hurt credit card companies began making its way through the House. The Pelosis purchased 5,000 shares of Visa at the initial price of $44 dollars. Two days later it was trading at $64.
Now Newsweek and The Daily Beast report that this stock purchase was made as Visa was engaged in a full-court press to lobby Pelosi to stop legislation to curb credit-card swipe fees to vendors.
In 2007, Visa used an army of lobbyists to try to influence Pelosi, including one of her former advisers, Dean Aguillen, Newsweek reports. Aguillen left Pelosi’s office to work for the lobbying firm Ogilvy. By law, he could not lobby Pelosi’s office directly, but he did lobby Congress on the credit card issue and offered advice to other lobbyists on that particular mission.
In addition to exploiting the revolving door between Congress and lobbying firms, Visa’s political action committee made a $1,000 donation to Pelosi’s re-election campaign, Newsweek reports (Visa headquarters is in Pelosi’s home district). Two days after that donation was made, Pelosi met with Visa executives in her office. Aguillen also contributed $1,000 to Pelosi and another $1,000 to the campaign arm of the House Democratic caucusin the first half of 2008.
The former speaker maintains she wasn’t influenced by Visa’s lobbying efforts or her husband’s stock purchases. “I will hold my record in terms of fighting the credit card companies as speaker of the House or as a member of Congress up against anyone,” she told “60 Minutes.”
Indeed, the swipe fee legislation opposed by credit card companies eventually passed. Additionally, in 2008 — before the Pelosis’ stock transaction — the House passed the Credit Cardholders’ Bill of Rights over the objections of the industry.
Drew Hammill, a spokesman for Pelosi, said her husband Paul Pelosi’s finances are kept distinctly separate from the congresswoman’s legislative work, Newsweek reports.
Pelosi is far from the only example of a legislator about whom questions have been raised.
“We know that during the health care debate people were trading health care stocks,” Peter Schweizer, a fellow at the conservative Stanford think tank the Hoover Institution, told “60 Minutes.” “We know that during the financial crisis of 2008 they were getting out of the market before the rest of America really knew what was going on.”
With the new focus on congressional “insider trading,” legislation to stop it is gaining momentum. Democratic Reps. Louise Slaughter of New York and Tim Walz of Minnesota have introduced legislation to stop insider trading in Congress. But the bill, which has been introduced before, has never had more than 14 congressional sponsors.
Sens. Scott Brown, R-Mass., and Kirsten Gillibrand, D-N.Y., and said they will introduce the legislation in the Senate. Several other lawmakers are now saying they could support the measure, Roll Call reports, including Pelosi.
Watch the “60 Minutes” report at web site.
House Speaker Nancy Pelosi’s husband cashed in on Big Tech just as Congress was set to pounce
BY SOPHIE MELLOR, Fortune, July 8, 2021 8:26 AM EDT
The week before the House Judiciary Committee voted on reigning in big tech, Speaker Nancy Pelosi’s husband exercised a bullish bet on Google-parent Alphabet, in a timely transaction that netted him $5.3 million.
The antitrust bill was advanced as a push by the government to curb the “unregulated power” of big tech firms Google, Amazon, Apple and Facebook. It was the final part of a six-part package called “Ending Platform Monopolies Act” aimed at restricting how big tech companies offer their products to ensure they don’t use their size to dominate the market.
However, despite its good intentions, the market reaction to the judiciary panel approving the legislation was muted—shares in big tech companies in fact rose after investors found the House proposal to be no real threat.
Paul Pelosi, who bought 4,000 shares of Alphabet on June 18 (as revealed in a financial disclosure signed by Nancy Pelosi and filed on July 2), made an initial $4.8 million gain from Alphabet’s rising share price, and has since seen his gain grow to $5.3 million.
Paul bought the stock by exercising a call option, which allows investors to speculate on stocks they do not own by entering into a contract that allows them to buy a stock at a later date at a promised price.
The upshot: a call option is a good tool for an investor who believes the stock price will go up in the future. In Pelosi’s case, the call options he’d previously bought for Alphabet (which were due to expire the day of his purchase) allowed him to buy it at $1,200 a share while the shares closed that day just over $2,500, a difference that accounted for his profit.
Paul Pelosi also reported buying call options for Amazon, Apple and NVIDIA, but he did not report exercising them.
Nancy Pelosi’s spokesperson said “The speaker has no involvement or prior knowledge of these transactions,” in an emailed statement on Wednesday, adding that Speaker Pelosi doesn’t own any stock.
Capitol gains
Great stock timing in DC isn’t exactly novel. Republican senators Richard Burr and Kelly Loeffler had inside knowledge of the impending COVID-19 crisis when they sold shares in January 2020.
Burr sold $1.7 million worth of stock holdings, while the former senator, Loeffler, wife of New York Stock Exchange chairman Jeffrey Sprecher and richest member of Congress at the time, unloaded up to $3.1 million worth of stock after getting closed-door briefings on the COVID-19 threat.
It is illegal for Congress members to trade based on non-public information gathered during their official duties, but it is hard to charge members of Congress with insider trading. Neither Burr not Loeffler faced any charges following inquiries.
But while it is hard to prosecute politicians over such stock sales, Twitter is less forgiving. ‘Nancy Pelosi Insider Trading’ began to trend on the social media service and people have called for her removal from office.
It's my understanding that the insider trading laws specifically exempt Members of Congress and Senators.
More on Pelosi at the unusual whales web site.
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