Michelle Leder, Columnist

Insider Trades Shouldn’t Leave Investors Guessing

The public needs more assurance that executives aren’t taking undue advantage of their privileged knowledge.

October 25, 2021 at 10:30 AM UTC

Michelle Leder is a Bloomberg Opinion columnist. Creator of Footnoted.com, a site devoted to SEC filings, she is author of “Financial Fine Print: Uncovering a Company’s True Value.”

Looking to fill the cracks in the regime.
Photographer: Bill Clark/CQ Roll Call/Bloomberg

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Executives naturally know more than the investing public does about the companies where they work. They also tend to trade in the shares of those companies, for various reasons. This poses a challenge: How can the public be sure that executives aren’t taking undue advantage of their privileged knowledge?

For far too long, the Securities and Exchange Commission has been relying too much on trust. That needs to change.