The SEC submitted an amicus curiae brief to address an important legal issue related to Section 16(b) of the Securities Exchange Act of 1934, 15

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The SEC submitted an amicus curiae brief to address an important legal issue related to Section 16(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78p(b). Supporting beneficial owners of an issuers securities bring a claim involving short-swing trading. (https://lnkd.in/dCFWE5_4)

I am no lawyer, far from it. But what I understand by this is, is that the brief aims to support beneficial owners raise claims against insiders that trade shares in companies and do not transfer profits from the purchase or sale of those shares within the first six months.

One wonders the effect on both insiders and beneficial owners in respect of the SEC final cyber ruling? Insiders with have privileged knowledge of a cyber attack and a covered organizations material risks. If supported the SECs action supports the right of a beneficial owners raise claims against traders with inside knowledge of a covered organizations threats and opportunities.

Ted Dziekanowski Rachel V. Rose, JD, MBA Bob Dix

#cybersecurity #cyberriskmanagement #securitiesandexchangecommission #insidertrading

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