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Only in congress
No but their friends and family do
To trade you need money. If you are working as support staff you neither have the money nor hanging out in a golf club to exchange the tips.
The SEC has lots of algorithms and analytics tools to look back at unusual trading activity in stocks before a merger. They very quickly got the RBC guy who made under $100k on insider trading. The cleaning folks don't have tens of thousands of dollars to throw around at stocks, and anything short-term enough like a big purchase right before an M&A deal would get flagged as unusual activity.
Also many of these people are in the US on a work visa, they are not risking getting deported over a small gain.
Did you just watch Wall Street?
Did you just watch the Netflix show? That woman is the least likeable main character I’ve seen in a while
I've thought about this and no probably not, but this is technically why bank's are meant to police clean desk policies.
They do not have the
a) Ability - you overestimate how much the layman knows about stocks, how they work or even how to buy them. It's even less likely that a cleaner, who is probably an immigrant with less education, has the ability to even use the information.
b) Incentive - Small amounts of money, no concept of leverage/derivatives to increase gains, don't want to get fired or lose visa. It's also likely that they are vaguely briefed on compliance etc upon getting the role.
They almost certainly don't.
Also, the SEC is generally on to shit like this. They caught someone in the print shop doing this years and years ago - he was giving online buddies trading tips based on the firms that we're being pitched by his deck. They caught him and everyone else in the ring.
Government is a lot more effective than it gets credit for. Which is why people who don't like regulation are constantly trying to defund or otherwise hamstring it
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