TechFlow, September 26 — According to the Wall Street Journal, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (Finra) are investigating several companies over unusual trading activity that occurred prior to their announcements of plans to purchase digital assets such as bitcoin. Sources indicated that regulators have contacted multiple firms, pointing out significant increases in trading volume and stock prices before they publicly disclosed their plans to acquire crypto assets—potentially violating Regulation Fair Disclosure (Reg FD), which prohibits companies from selectively disclosing material non-public information to specific investors. Some lawyers noted that such letters are often a precursor to insider trading investigations.
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