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Re: Elmer Phud post# 2769

Monday, 11/25/2002 11:01:13 PM

Monday, November 25, 2002 11:01:13 PM

Post# of 151754
Elmer: You are partly correct.

It should be: "... anyone who trades based on non public information without filing a public notice with the SEC is violating the law. Of course, as DD and I have pointed out, anyone who is a fiduciary cannot legally trade on non-public material insider information at all. The real key is defining a fiduciary. Just about any known company figure can be construed as having fiduciary responsibilities.

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