If appropriate, companies should have an insider trading policy, and this should be clearly communicated to everyone concerned. Then everybody knows what is expected.
Stora Enso provide their policy online, but also go one step further by listing those individuals who qualify as insiders – and to whom, therefore, the policy applies. I have also seen the ‘closed periods’ listed, during which these people may not trade in the company securities, but it isn’t there at the moment. Perhaps this information is only provided around those periods.
Author
Lucy is Editor at Corporate Eye