It seems as if people in authoritative positions within the different governing bodies such as the SEC are as committed as ever on cracking down on insider trading. For those who are not aware, insider trading simply means that someone has access to information about a public company which is not made public, and then trades stocks or bonds in reaction to this(usually an employee of the company.) Using this private information to benefit is seen as an unfair advantage. Recently an employee of Level Global’s consumer sector, Mark Megalli pled guilty to insider trading which helped the company’s hedge fund avoid losses and receive an undisclosed amount of money within 2.5 and 7 million dollars. (http://online.wsj.com/news/articles/SB10001424052702303289904579198621248299610)
One commission is taking a stance on this issue. I feel that Sebi (Securities Exchange Board of India) has really come up with an innovative idea on how to better prevent similar issues from happening. A proposal has been put forward which basically states that notification 3 months ahead of time must be given my insiders and promoters if they are wanting to trade. Although the practicality of all of this may come into question, I firmly believe that a similar implementation might better prevent illegal insider trading.