Wiley Series 65 Exam Review 2016 + Test Bank by Securities Institute of America

Author:Securities Institute of America
Language: eng
Format: epub
ISBN: 9781119138822
Publisher: Wiley
Published: 2015-11-05T00:00:00+00:00

Information becomes public information once it has been disseminated over public media. The SEC will pay a reward of up to 10% to informants who turn in individuals who trade on inside information. In addition to the insiders already listed, the following are also considered insiders:

Accountants

Attorneys

Investment bankers

Firewall

Broker dealers who act as underwriters and investment bankers for corporate clients must have access to information regarding the company in order to advise the company properly. The broker dealer must ensure that no inside information is passed between its investment banking department and its retail trading departments. The broker dealer is required to physically separate these divisions by a firewall. The broker dealer must maintain written supervisory procedures to adequately guard against the wrongful use or dissemination of inside information.

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