Company Cracks Down on Insider Trading
In an effort to maintain transparency and fairness, Genneia has implemented a comprehensive insider trading policy aimed at preventing any unauthorized trading decisions.
Who’s Who: Inside and Outside the Company
Genneia recognizes two types of insiders:
- Corporate Insiders: directors, employees, and supervisory committee members who owe loyalty and confidence to the company
- Outsiders: family members and close friends of these individuals
Both categories are prohibited from buying or selling Genneia securities based on inside information.
What is Insider Trading?
Insider trading occurs when anyone uses material non-public information to make a profit or avoid a loss. This includes corporate insiders who possess confidential information about the company’s operations, finances, or future prospects.
The Consequences of Insider Trading
Violations of Genneia’s insider trading policy can result in severe penalties:
- Corporate Disciplinary Action
- Termination from Employment
- Lawsuits by the company, shareholders, and regulatory authorities
- Fines up to three times the profit gained or loss avoided
- Criminal Prosecution with possible prison time, fines, and a ban on participating in the securities industry
Preventing Insider Trading
To prevent insider trading, Genneia has implemented several measures:
- Prohibition: all employees are prohibited from buying or selling company securities based on inside information.
- Reporting: employees are required to report any suspicious activity or concerns about insider trading to the Chief Compliance Officer or Internal Audit.
- Anonymous Reports: anonymous compliance reports can be made through the company’s website.
The Importance of Transparency
Genneia is committed to maintaining transparency and fairness in all its dealings. The company encourages employees to speak up if they have any questions or concerns about trading decisions.
What You Need to Know
To ensure compliance with Genneia’s insider trading policy, it’s essential to understand:
- Who is an Insider: directors, employees, and supervisory committee members
- What is Material Non-Public Information: information that could affect the company’s stock price or operations
- The Consequences of Violating the Policy: severe penalties, including fines and criminal prosecution
By staying informed and vigilant, we can all contribute to a culture of transparency and fairness at Genneia.