TTSEC- Insider Trading
The Trinidad and Tobago Securities and Exchange Commission (“the Commission”) wishes to inform the public that it has concluded its investigation into certain allegations of insider trading in relation to shares of Trinidad Cement Limited (“TCL”) in 2002.
An association of market actors in the Securities Industry has formally registered as a non-profit organization under the name of Securities Dealers of Trinidad and Tobago (SDATT)
“Insider trading” (also known as “insider dealing”) occurs when someone makes an investment decision based on information that is not yet known to the public at large. Sometimes trading on this information allows persons to make a profit. At other times it can help them avoid a loss. Either way this type of trading is illegal
The Trinidad and Tobago Securities and Exchange Commission has noted with concern, the practice by many companies listed on the Trinidad and Tobago Stock Exchange, of disseminating price sensitive information to certain select persons and audiences ahead of their release of such information to the general public. Such action constitutes Selective Disclosure, a practice not conducive to the operation of a fair and equitable securities market.