tcmay@mail.got.net wrote:
The SEC tumbled to this some time ago, and now demands that all those who are insiders, or who are married to insiders, or who are golfing buddies of insiders register their trading intentions 90 days in advance of any transaction. (This will increase to 120 days in 1997, and 180 days the following year.)
Those intentions in all likelyhood will not be binding...When I used to work for Swiss Bank Corp, the SEC demanded that any person who was privy to trading information (basically everyone) had to file for approval before making a transaction. This approval was non-binding. I don't think the SEC has the power to mandate that a entity commit to a trade 180 days before the trade is suppose to happen, after all the instrument the entity is registering their intent to make a trasaction in; could have something horrible happen to it within 180 days (apple could blow up their headquarters for example) The SEC may however have the power to request a reason for your decision not to make the transaction. Which seems like it would be alot of work, since their are tons of and tons of approvals that get made. (I know alot of people who would make a request to trade something, not do a trade, but have another request become active when the original request expired (they give you a 2 week window or so)) --Kurt