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From: steve@bambi.UUCP (Steve Miller)
Newsgroups: net.invest
Subject: Re: new issues and such
Message-ID: <221@bambi.UUCP>
Date: Mon, 20-Jan-86 16:47:23 EST
Article-I.D.: bambi.221
Posted: Mon Jan 20 16:47:23 1986
Date-Received: Tue, 21-Jan-86 07:31:38 EST
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Organization: Bell Communications Research Inc., Morristown, NJ
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> >I would think that by the very nature of the net, it should be possible to
> >spot investment opportunities earlier than the general public.

> Would announcing the info to the net make it not insider trading?

No.  SEC currently requires information that would permit profitable
trading to be announced in widely disseminated journals that are
available to the public at large.  The Wall Street Journal qualifies,
but subscription newsletters do not.  Note that this does not prohibit
one from make a recommendation based upon public information.  That is,
if I think IBM is a good buy because of what I read in WSJ, I can tell
my sister and she is allowed to trade on that.  If I learn that DEC is
about to announce a new product and I tell my sister, she is not allowed
to trade on that.

Since most users access the net by logging into systems that are not
publicly accessible, SEC would be likely to take the attitude that
the net is not comparable to the Wall Street Journal.