SIE: Insider Trading Penalties

Taken from our SIE Online Guide

Insider Trading Penalties

Insider trading is subject to a maximum civil penalty of treble damages (three times the amount of the benefit obtained by the violation). A civil penalty is a fine or surcharge assessed for the violation of a statute or regulation. “Benefit obtained” means any gain the trader received or any loss the trader may have avoided. The maximum civil penalty that can be imposed on a firm when an employee engages in insider trading is the greater of $1 million or three times the amount of the profit gained or loss avoided as a result of the violation.

For more severe instances, the Justice Department may bring criminal charges, carrying maximum penalties of $5 million for each willful violation and/or 20 years in prison. Firms

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