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According to Sarbanes -Oxley Act directors and senior executives are nor to trade company shares during black-out period. true or false?

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Question added by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER
Date Posted: 2016/03/13
Fathi Matbaq
by Fathi Matbaq , Senior Purchasing Officer , Alghanim Industries

False, This Act prescribes specific rules regarding executive transactions during a "black-out" period in which employees are not allowed to sell their shares purchased through the company's 401k retirement plan. The Sarbanes-Oxley Act explicitly prohibits executives form selling stock during a company's black out period.

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