A bill to amend title 18, United States Code, to provide penalties for insider trading of securities and related conduct.
Insider Trading Prevention Act of 1987 - Amends the Federal criminal code to establish criminal penalties for insider trading in securities. Defines "insider trading" as using any means or instrumentality of interstate commerce, the mails, or any facility of a national securities exchange to buy or sell a security to which inside information pertains, or to communicate inside information to any person knowing that such communication is likely to result in trading on the basis of such information.
Sets forth certain affirmative defenses based on the second party's knowledge of the inside information.
Introduced in House
Introduced in House
Referred to House Committee on The Judiciary.
Referred to Subcommittee on Criminal Justice.
Subcommittee Hearings Held.
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