Based on the idea of perfect competition, where the market is omniscient, this code is as unenforceable as the insider trading rules.

FORBES: Magazine Article

Insider trading rules were vague, and it was easy for a small circle of experts to sell a story and get others to bite.

FORBES: As ETF Costs Crater, Retirement Investors Win

Insider trading rules make the executive personally liable for getting things wrong, though much of what any chief executive--or any person--thinks at any particular time is wrong.

FORBES: Magazine Article