Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : GLOW - Global Games, Inc. - Great Profit Potential ! -- Ignore unavailable to you. Want to Upgrade?

To: CO who wrote (4671)	7/14/1998 10:29:00 PM
From: robwin	Respond to of 8879

No payment or consideration is necessary to be guilty of passing non-public or inside information from a publically traded company under Federal securities legislation. The onus is both on the individual and the company to avoid the desemination of such information. While you may not be aware the information given by the company falls under these categories, you nontheless may face criminal or civil liability. With the advent of the internet and sites such as SI, I expect the SEC to crack down on the more blatant offenders. For those of you who doubt this will happen, wait and see, I believe that the SEC has a divison who is monitoring various threads on SI and the trading patterns of certain posters. Robert

To: CO who wrote (4671)	7/14/1998 11:37:00 PM
From: Bob Davis	Read Replies (1) \| Respond to of 8879

Cheryl, Section 20A of the Securities Exchange Act of 1934, which is entitled "Liability to Contemporaneous Traders for Insider Trading", states: "(a) Private Rights of Action Based on Contemporaneous Trading. Any person who violates any provision of this title or the rules or regulations thereunder by purchasing or selling a security while in possession of material, nonpublic information shall be liable in an action in any court of competent jurisdiction to any person who, contemporaneously with the purchase or sale of securities that is the subject of such violation, has purchased (where such violation is based on a sale of securities) or sold (where such violation is based on a purchase of securities) securities of the same class." "(c) Joint and Several Liability for Communicating. Any person who violates any provision of this title or the rules or regulations thereunder by communicating material, nonpublic information shall be jointly and severally liable under subsection (a) with, and to the same extent as, any person or persons liable under subsection (a) to whom the communication was directed." The SEC is actively prosecuting individual investors for violations of this law - specific citations can be found on the SEC web site. Let me assure you that, when I get "inside information" in the course of doing my "due dil", I do not repeat it and I do not trade on the basis of it. If you do so, you are incurring really huge legal and financial liabilities.... Bob Davis The Napeague Letter napeague.com