Tanya Foust, founder of the Trading Company and a former trader in the financial sector, is among those calling for a crackdown on stock trading sites that are now operating under a new regulatory regime.
“Stock trading sites are becoming the new hot spots for insider trading,” she said.
“These sites are designed to allow people to trade on insider information and get a price for their trades.
The sites are so easy for people to set up that they’ve become one of the major trading platforms for the super-wealthy and for the most powerful players in the world.”
Foust said she thinks the new regime will have a significant impact on how stock trading is conducted.
While there are no national regulations in place to curb insider trading, Foust believes the new law will require more transparency for stock exchanges.
In January, the Securities and Exchange Commission proposed new rules that would require exchanges to be publicly traded and disclose their trading history to investors.
The agency also said it will require companies to publicly disclose the percentage of shares traded by insiders.
The proposed rule will be published on the SEC’s website and in the Federal Register by the end of the year.
However, a handful of state and local regulators, including the SEC, are considering their own rules.
State and local officials have said they would prefer to regulate trading sites in a way that protects investors.
Meanwhile, a new bill that was introduced in Congress last week would require stock exchanges to publicly report insider trading data.
As of March 30, the SEC had recorded 5,500 trading accounts for insider-trading violations, according to the agency’s website.
The legislation, which has bipartisan support, would require the commission to publish a database of the accounts, as well as disclose the names of all stock traders who have been caught trading on insider trading information.
For Foust and others who are calling for greater regulation of stock trading, the prospect of having so much information available is concerning.
“I’m concerned about how the SEC is going to monitor this,” she told Business Insider.
“There’s no data about who’s trading on what, how often, and who’s buying what, and there’s no way to check the accuracy of the data.”
While Foust thinks the SEC should be responsible for the monitoring of stock exchanges, she also believes that companies that are not public companies, like hedge funds, are more vulnerable to insider trading.
Foust, who has worked as a trader for 30 years, said the SEC doesn’t do a very good job of monitoring hedge funds.
“[The SEC] doesn’t have a good track record when it comes to keeping track of insider trading violations,” she explained.
She also believes the SEC could do a better job of regulating hedge funds and private equity firms, where the data is more difficult to gather.
The Securities and Public Market Oversight Act of 2016 requires the SEC to require publicly traded companies to disclose all information about their trading activities, including all stock trades, stock prices, price changes, and all trades that involve insider information.
The bill also requires companies to include in their annual reports to the SEC a description of the extent to which they monitor insider trading and their compliance efforts.
Some states have passed laws that require stock trading companies to be public companies.
However, they can still be private, like Vanguard, which is not required to publicly release trading information and does not publish quarterly reports.
Many investors, including Foust herself, say that if there is a need to track stock trades at all, they should be required to disclose that information to investors, and not rely on a company’s secrecy to avoid being caught.
It is possible that if the SEC does require publicly-traded companies to report on insider trades, they may not do so.
On April 4, a federal judge in New York ruled that the SEC must report to Congress on whether it can require publicly owned companies to publish quarterly data on the number of shares they own.
If the SEC determines that public companies are too large to be required under the law, Foulston said she would be concerned.
But she said the problem of insider-trade violations doesn’t just extend to large corporations and hedge funds as well.
There are many more people in the United States who are in the top 1% of earners than the top 10% of people, according in the report “The New Global Wealth Hierarchy,” by the Urban Institute.
“In a society where a billion people have $10,000 in their bank accounts, if that money is not in the form of shares and they’re not making money, that’s a problem,” Foulson said.
Foulson’s group found that there were more than 300,000 instances of insider trades in the U.S. during 2015.
Foulston believes that if people are willing to work hard to create a better world, there will