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Thanks, Pixy & Squawk, for your thoughts.

I certainly understand the need for audit firms, law firms, brokerage houses, etc. to have a "black list" of prohibited companies where inside info might be available. And I know that, in this case, the policy is geared solely toward being alerted of potential insider trading conflicts. It just seems that the broad wording discourages any involvement in an arbitrary and unknown definition of "speculative" activity.

If someone is going home and trading penny stocks after-hours based on their own due diligence or simply trading on margin, what business is it of the company? This policy, however, would appear to prohibit it and subject the employee to disciplinary action. Certainly, in practice, this would not happen but it's very disconcerting to know that the potential is there.

And Pixy, you're absolutely right that this may well be a condition of employment and the choice to look elsewhere is available. I think in practice, though, that there are many employees with 5, 10, 15 years with the company that would have a difficult time picking up and leaving their senority and experience behind over the sudden appearance of this policy. Just my opinion.

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