INSIDER TRADES ON WEB

September 16, 2008
Michael Sheehan

Physician's Money Digest, February28 2003, Volume 10, Issue 4

Insiders who buy or sell theircompany's stock have to report thetrades to the SEC, but the reports arefiled on paper and often don't seethe light of day for as long as 40days after the trade has been made.Now, the SEC is publishing rulesthat would make insiders reporttheir trades online, using the SEC'sEDGAR system (www.sec.gov/edgar.shtml). Insiders would also haveto post trades on their corporate Website or on the SEC Web site, allowinginvestors real-time access to insidertrading activity. The SEC action is inresponse to a Congressional directivethat calls for universal electronic filingby July 2003. Currently, about25% of all insider-trade reports arefiled electronically.