SEC Examines Facebook Stock Trades
The Securities Exchange Commission is probing trades of private stock including Facebook shares.
The Securities Exchange Commission is looking into the trading of Facebook shares on private marketplaces.
The SEC inquiry includes transactions in Zynga, Twitter and LinkedIn shares within the same private markets that Facebook stakes have exchanged hands, according to a New York Times article citing two individuals who requested anonymity.
The probe seems kind of informal right now, based on the direction of the queries. The SEC sent information requests to people who are buying and selling these stocks, rather than specific representatives of the companies in question.
A more serious inquiry might ask for more information from SecondMarket or SharesPost, but the Times article didn’t suggest that the SEC queried executives at the venues where the private stocks trade — although people working at said markets might be buying and selling these stakes.
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