Section 16(b)of the 1934 Securities Exchange Act deals with short-swing profits of "insiders." For purposes of the section,which of the following are not "insiders"?

Question

Quizplus · Accepted Answer

Attorneys with access to corporate records are not considered insiders for the purposes of Section 16(b). However, directors, officers, and 10 percent shareholders are considered insiders and are subject to the short-swing profit rules.

Section 16(b)of the 1934 Securities Exchange Act Deals with Short-Swing