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Insider Trading

Insider trading is the most frequent allegation in SEC settlements with individuals (see exhibit, below). Few companies have settled insider trading charges in the period examined in our study; the annual number has ranged from only one in 2004 to a high of seven in 2007.


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 The median monetary penalty for individuals settling insider trading cases was $170,000 for the first three quarters of 2008, putting the year on pace for a new record (see below).


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