From a well respected poster on another board regarding insider trading:
You have to be cautious in using the TMX insider trade data, because it is based solely on whether a trade carried a marker. A significant shareholder or insider is supposed to flag a trade, and that is all the TMX data is based on. I'm an insider on some public companies, and my trading account would permit me to flag any trade, not just those that I am truly an insider of. A marked trade could be an accident, it could be intentional but deceptive, or it could be accurate. Reporting insiders have five days to file an update to SEDI, and that is the only reliable source of insider data. TMX gives you a heads up, but there is a full disclaimer about the potential inaccuracy of the marked trade data on their website. It's worth a read.
BTW, I was following another Venture listed stock last year, and nearly every day, TMX reported insider trades. Not one of those trades was ever reported to SEDI.
Lar
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