North American Properties, Inc., and its officers, directors, and share?holders, buy and sell securities. Section 16(b) of the Securities Exchange Act of 1934 covers

Question

Quizplus · Accepted Answer

Section 16(b) of the Securities Exchange Act of 1934 covers only purchases and sales of securities involving short-swing profits, which are profits made in any security that is bought and sold or sold and bought within a six-month period by officers, directors, and significant shareholders of a company. It does not cover all purchases and sales of securities or purchases and sales by investment companies, tippers, and tippees.