Accountants and "Insider" Trading.
讨论了会计师因掌握未公开信息而面临的内幕交易限制，分析了现有职业准则的不足，并提出了加强合规的预防措施。
Abstract The courts have held that anyone in possession of material nonpublic information is an "insider" and so is subject to restrictions on security trading. These restrictions include not only a prohibition of trading for one's own account but also proscribe the distribution of "inside" information to others. This ban on the sharing of nonpublic information is formalized in the Insider Trading Sanctions Act of 1984. Accountants' need for independence led to standards of conduct that were sufficient to provide protection against the personal trading restrictions of the Securities Exchange Act of 1934. Additional measures, however, are needed to ensure compliance with the 1984 act. Rule 301 of the AICPA Code of Professional Ethics is consistent with this law but is limited in scope. Ethical training for all employees, familiarity with the law, rudimentary security measures, and simple prudence can substantially reduce the likelihood of both improper disclosures of confidential client information and violations of federal security regulations. These precautions may prevent disciplinary actions, save the careers of employees, and prevent irreparable damage to a firm's reputation. Caution with respect to inside information is necessary for accountants.