Close Period

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Close Period

The time between the preparation of a company's balance sheet and its announcement to the public. The close period usually lasts about two months. During this time SEC rules prohibit insiders from buying or selling the company's shares in any way.
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Such bets and contracts will be banned during close periods ahead of formal company announcements just like conventional share dealings.
A loophole whereby directors can make secret shadow dealings in the shares of their own companies is to be shut on December 1 - in time for the 'close period' banning directors' dealings in the large number of companies with calendar year-ends.