U.S. Securities & Exchange Commission
SEC Seal
Home | Jobs | Fast Answers | Site Map | Search
U.S. Securities and Exchange Commission

The content on this page is no longer being updated. Please refer to SEC Enforcement Actions: Insider Trading Cases for the most recent information on Insider Trading.

Spotlight on Insider Trading

Illegal insider trading refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. Insider trading violations may also include "tipping" such information, securities trading by the person "tipped," and securities trading by those who misappropriate such information.

The SEC regularly brings insider trading enforcement actions against:

  • Corporate officers, directors, and employees who traded the corporation's securities after learning of significant, confidential corporate developments.

  • Friends, business associates, family members, and other "tippees" of such officers, directors, and employees, who traded the securities after receiving such information.

  • Other persons who misappropriated, and took advantage of, confidential information from their employers.

SEC's Year-by-Year Enforcement of Insider Trading

A bar graph showing the number of insider trading enforcement actions brought by the SEC each year from 2004 to 2008. In 2004 there were 42 cases, in 2005 there were 50 cases, in 2006 there were 46 cases, in 2007 there were 47 cases, in 2008 there were 61 cases, in 2009 there were 37 cases, in 2010 there were 53 cases, in 2011 there were 57 cases, and in 2012 there were 58 cases.


Summaries of Insider Trading Cases

Insider trading continues to be a high priority area for the SEC's enforcement program, with recent cases involving hedge fund managers, corporate insiders, and even government employees who unlawfully traded on material non-public information.

View recent examples of SEC enforcement actions against insider trading…



Modified: 11/23/2012