On Wall Street and beyond, people in New York may often find themselves concerned about ensuring that their financial transactions are conducted properly. This may help them avoid unnecessary fees but it is also essential in order to comply with all laws and standards for business conduct. It is easier than some may think to have a stock sale or other major transaction appear to others as potentially fraudulent.
Three men who held executive positions at the credit monitoring entity, Equifax, have learned this all too well. The company has been in the news a great deal in recent months due to a large data breach. These three men have themselves been under personal scrutiny as each one sold some of their stock holdings after the breach occurred but before it was made public. This has led many to toss out accusations that these executives were aware of the problem and chose to sell their stock before the issue was known.
A very in-depth review of the situation has been completed by the company itself and the reports have conclusively stated that there were no overt acts of insider trading or fraud on the part of the three men. The U.S. Department of Justice and the U.S. Securities and Exchange Commission will also be reviewing the matter.
New Yorkers who find themselves accused of white collar crimes may want to talk with an attorney promptly in order to secure assistance in defending themselves against such allegations.
Source: Engadget, "Equifax committee says executive stock sales weren't insider trading," Mallory Locklear, November 3, 2017