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Yes, get clearance, The bigger risk is: do you want the SEC investigating you?
Subject Expert
It’s honestly not even really a firm policy. As someone above mentioned, it’s really an SEC risk.
Subject Expert
less about the firm and more about having regulators potentially breathing down your neck, in which event, you’ll have the firm breathing down your neck
Coach
Don’t do a Nancy Pelosi
Coach
You’re using that term the way a layperson would. I don’t disagree with your overall characterization (and think we should ban all lawmakers and spouses from trading individual stocks); but Congress having access to whispers about pending legislation momentum and trading based on macro expectations… good luck proving it rises to “material non-public information.” Political info is ambiguous, quasi-public, and you can still claim you’re trading based on your advisors input.
Coach
Yes you really truly do
My firm doesn't require clearance. There's just a blanket policy not to trade on confidential information.
This is literally why I am not married and have no shared finances with my tech-employee partner. Maybe we will get married when I quit big law lol
... is your partner happy that you choose not to make a lasting commitment to them to avoid preclearence of stock trades...?
I genuinely think it is the lowest priority item someone daily cost averaging out of a large F50 tech company into an index fund
If we all insider trade then no one insider trades!
That's strong form efficient market hypothesis!
Yep, I'd be pre-clearing each time just as CYA.
Mentor
My spouse works at a big tech company too and has to follow procedures to sell their RSUs during certain windows. That was clearance enough from when I last checked with my firm.