Sample case

A synthetic trade checked against synthetic firm policy. The people and the company are invented.

Case 8: Sales that add up

Vice President sells $2,000,000, bringing the last 90 days to $16,000,000

This trade alone is within the single-trade limit. It only looks wrong once it is added to what the same insider sold earlier, which means checking across more than one filing.

Reasons for concern

Trading in the 90 days up to this date totals $16,000,000 against a $15,000,000 limit.
The total includes an earlier $14,000,000 trade by the same insider.

What could explain it

At $2,000,000, the trade is under the $3,000,000 single-trade limit for this role.

Answer key

Flag for review

Set when the scenario was designed. A rules-based reference investigation reaches it from the evidence.

AI investigator

ClearDiffers from the answer key

Recorded live run on 2026-11-01 using gpt-4o-2024-08-06 and gpt-4o-mini-2024-07-18, costing $0.049.

What the safeguards reported

Claims check: 9 of 11 claims judged supported
Citations: 2 of 11 claims cite no evidence
Required checks: 6 of 6 run

A recorded run of the AI investigator

The conclusion and the claims below were written by the model. The checks beside them are code and a separate judging model.

What decides this case

Total traded in the 90 days before

Over the limit

Total: $16,000,000Rolling limit: $15,000,000

Window ending: Jul 1, 2025
Transactions counted: 2
Sale: $16,000,000

View source result call_ahNwyeQ0a26zKRXxeP1jD2bq

rolling_90d_trading_volume({"rptowner_cik":"9000000008","as_of_date":"2025-07-01"})

{
  "total_volume": 16000000,
  "sales_volume": 16000000,
  "purchases_volume": 0,
  "volume_by_code": {
    "S": 16000000
  },
  "transaction_count": 2,
  "rptowner_cik": "9000000008",
  "window_end": "2025-07-01",
  "window_days": 90,
  "accession_numbers": [
    "SCENARIO-0000000001-25-000008-PRIOR",
    "SCENARIO-0000000001-25-000008"
  ]
}

What this role may trade

Within the limit

Largest trade: $2,000,000Single-trade limit: $3,000,000

Role: Officer (Senior)
Single-trade limit: $3,000,000
Rolling 90-day limit: $15,000,000
Blackout restrictions: Medium

View source result call_ayKoTOj4ZHkNoblJ5q9z1KAl

get_applicable_role_limits({"relationship":"Officer","title":"Vice President"})

{
  "relationship": "Officer",
  "authorization_level": "Senior",
  "single_trade_limit": 3000000,
  "rolling_90d_limit": 15000000,
  "blackout_restrictions": "Medium",
  "currency": "USD"
}

Their own trading history

Earlier trades: 1 in 180 days
Typical trade (median): $14,000,000
Largest earlier trade: $14,000,000
This trade vs typical: 0.1×

View source result call_SlhCFEZiNA4qA3kJuopMhM7Q

insider_trading_baseline({"rptowner_cik":"9000000008","as_of_date":"2025-07-01"})

{
  "rptowner_cik": "9000000008",
  "as_of_date": "2025-07-01",
  "lookback_days": 180,
  "transaction_count": 1,
  "mean_value": 14000000,
  "median_value": 14000000,
  "max_value": 14000000,
  "recent_transactions": [
    {
      "accession_number": "SCENARIO-0000000001-25-000008-PRIOR",
      "trans_date": "2025-06-01",
      "trans_code": "S",
      "trans_value": 14000000
    }
  ]
}

Their own trading history

Earlier trades: 1 in 180 days
Typical trade (median): $14,000,000
Largest earlier trade: $14,000,000
This trade vs typical: 0.1×

View source result call_MOOxqWAVowSLDh5LqCH3PSxi

insider_trading_baseline({"rptowner_cik":"9000000008","as_of_date":"2025-07-01","lookback_days":180})

{
  "rptowner_cik": "9000000008",
  "as_of_date": "2025-07-01",
  "lookback_days": 180,
  "transaction_count": 1,
  "mean_value": 14000000,
  "median_value": 14000000,
  "max_value": 14000000,
  "recent_transactions": [
    {
      "accession_number": "SCENARIO-0000000001-25-000008-PRIOR",
      "trans_date": "2025-06-01",
      "trans_code": "S",
      "trans_value": 14000000
    }
  ]
}

Other evidence reviewed

The trade as filed

Filed on time

SCENARIO OFFICER EIGHT, Vice President of Acme Corp (ACME)

SSale50,000 shares × $40 = $2,000,000Jul 1, 2025

Filed: Jul 2, 2025 (Form 4), 1 trading day after the trade
Trading plan: 10b5-1 status: not established

View source result call_1T8GPvQN844VZAWUGqOyiuZW

get_transaction_details({"accession_number":"SCENARIO-0000000001-25-000008"})

{
  "accession_number": "SCENARIO-0000000001-25-000008",
  "issuer_cik": "0000320193",
  "issuer_name": "Acme Corp",
  "issuer_ticker": "ACME",
  "filing_date": "2025-07-02",
  "document_type": "4",
  "reported_under_10b5_1": "unknown",
  "filing_lag_trading_days": 1,
  "rptowner_cik": "9000000008",
  "rptowner_name": "SCENARIO OFFICER EIGHT",
  "rptowner_relationship": "Officer",
  "rptowner_title": "Vice President",
  "transactions": [
    {
      "nonderiv_trans_sk": 1,
      "trans_date": "2025-07-01",
      "trans_code": "S",
      "trans_shares": 50000,
      "trans_priceper_share": 40,
      "trans_value": 2000000,
      "trans_acquired_disp_cd": "D",
      "shrs_ownd_folwng_trans": null,
      "superseded": false,
      "superseded_by": null
    }
  ],
  "transaction_count": 1
}

Firm rules checked

R003Unusual Sale Pattern (Rapid Trading)Medium
R006High Volume Spike vs. Own BaselineMedium
R008Reported Rule 10b5-1 Plan (severity reducer)Low
R009Tax-Withholding Disposition (Code F, severity reducer)Low
R010Option Exercise (Code M, severity reducer)Low
R001Single Trade Limit ExceededHigh
R002Rolling 90-Day Volume ExceededHigh
R007Late Section 16(a) Filing (> 2 trading days)High
R004Large Sale After Recent AcquisitionCritical
R005Suspicious Timing Near EarningsCritical

View source result call_bOM0U7cGVC1N2K8FZfn2VQgi

get_compliance_rules({})

[
  {
    "rule_id": "R003",
    "rule_name": "Unusual Sale Pattern (Rapid Trading)",
    "threshold_value": 3,
    "rule_type": "pattern",
    "severity": "Medium"
  },
  {
    "rule_id": "R006",
    "rule_name": "High Volume Spike vs. Own Baseline",
    "threshold_value": 150000,
    "rule_type": "volume_spike",
    "severity": "Medium"
  },
  {
    "rule_id": "R008",
    "rule_name": "Reported Rule 10b5-1 Plan (severity reducer)",
    "threshold_value": null,
    "rule_type": "exculpatory",
    "severity": "Low"
  },
  {
    "rule_id": "R009",
    "rule_name": "Tax-Withholding Disposition (Code F, severity reducer)",
    "threshold_value": null,
    "rule_type": "exculpatory",
    "severity": "Low"
  },
  {
    "rule_id": "R010",
    "rule_name": "Option Exercise (Code M, severity reducer)",
    "threshold_value": null,
    "rule_type": "exculpatory",
    "severity": "Low"
  },
  {
    "rule_id": "R001",
    "rule_name": "Single Trade Limit Exceeded",
    "threshold_value": null,
    "rule_type": "single_limit",
    "severity": "High"
  },
  {
    "rule_id": "R002",
    "rule_name": "Rolling 90-Day Volume Exceeded",
    "threshold_value": null,
    "rule_type": "rolling_90d_limit",
    "severity": "High"
  },
  {
    "rule_id": "R007",
    "rule_name": "Late Section 16(a) Filing (> 2 trading days)",
    "threshold_value": 2,
    "rule_type": "filing_lateness",
    "severity": "High"
  },
  {
    "rule_id": "R004",
    "rule_name": "Large Sale After Recent Acquisition",
    "threshold_value": null,
    "rule_type": "timing",
    "severity": "Critical"
  },
  {
    "rule_id": "R005",
    "rule_name": "Suspicious Timing Near Earnings",
    "threshold_value": 5,
    "rule_type": "timing",
    "severity": "Critical"
  }
]

Was news about to come out?

No blackout window

No scheduled blackout window covers Jul 1, 2025.

View source result call_0BW8ken50HK7JvxfZEwF100w

get_material_events({"issuer_cik":"0000320193","on_date":"2025-07-01"})

{
  "issuer_cik": "0000320193",
  "on_date": "2025-07-01",
  "in_blackout": false
}

Firm rules checked

R003Unusual Sale Pattern (Rapid Trading)Medium
R006High Volume Spike vs. Own BaselineMedium
R008Reported Rule 10b5-1 Plan (severity reducer)Low
R009Tax-Withholding Disposition (Code F, severity reducer)Low
R010Option Exercise (Code M, severity reducer)Low
R001Single Trade Limit ExceededHigh
R002Rolling 90-Day Volume ExceededHigh
R007Late Section 16(a) Filing (> 2 trading days)High
R004Large Sale After Recent AcquisitionCritical
R005Suspicious Timing Near EarningsCritical

View source result call_4wSDznztVujxNC5ECjTM170I

get_compliance_rules({})

[
  {
    "rule_id": "R003",
    "rule_name": "Unusual Sale Pattern (Rapid Trading)",
    "threshold_value": 3,
    "rule_type": "pattern",
    "severity": "Medium"
  },
  {
    "rule_id": "R006",
    "rule_name": "High Volume Spike vs. Own Baseline",
    "threshold_value": 150000,
    "rule_type": "volume_spike",
    "severity": "Medium"
  },
  {
    "rule_id": "R008",
    "rule_name": "Reported Rule 10b5-1 Plan (severity reducer)",
    "threshold_value": null,
    "rule_type": "exculpatory",
    "severity": "Low"
  },
  {
    "rule_id": "R009",
    "rule_name": "Tax-Withholding Disposition (Code F, severity reducer)",
    "threshold_value": null,
    "rule_type": "exculpatory",
    "severity": "Low"
  },
  {
    "rule_id": "R010",
    "rule_name": "Option Exercise (Code M, severity reducer)",
    "threshold_value": null,
    "rule_type": "exculpatory",
    "severity": "Low"
  },
  {
    "rule_id": "R001",
    "rule_name": "Single Trade Limit Exceeded",
    "threshold_value": null,
    "rule_type": "single_limit",
    "severity": "High"
  },
  {
    "rule_id": "R002",
    "rule_name": "Rolling 90-Day Volume Exceeded",
    "threshold_value": null,
    "rule_type": "rolling_90d_limit",
    "severity": "High"
  },
  {
    "rule_id": "R007",
    "rule_name": "Late Section 16(a) Filing (> 2 trading days)",
    "threshold_value": 2,
    "rule_type": "filing_lateness",
    "severity": "High"
  },
  {
    "rule_id": "R004",
    "rule_name": "Large Sale After Recent Acquisition",
    "threshold_value": null,
    "rule_type": "timing",
    "severity": "Critical"
  },
  {
    "rule_id": "R005",
    "rule_name": "Suspicious Timing Near Earnings",
    "threshold_value": 5,
    "rule_type": "timing",
    "severity": "Critical"
  }
]

Finding

ClearConfidence: high10b5-1 status: not established

The investigation into SEC Form 4 filing SCENARIO-0000000001-25-000008 reveals no violations of insider trading rules. The insider, SCENARIO OFFICER EIGHT, executed a sale of 50,000 shares totaling $2,000,000, which is within the single trade limit of $3,000,000 for a Vice President. The total trading volume over the last 90 days was $16,000,000, which does not exceed the rolling 90-day limit of $15,000,000. Additionally, the transaction is significantly lower than the insider's historical mean and median transaction values of $14,000,000, indicating it is not unusually large compared to past behavior. There were no blackout periods on the transaction date, and no compliance rules were violated.

Exculpatory factors

below all thresholds (transaction 1)

Grounding: 9/11 claims supported, confidence: low, 2 unsupported. Unverified claims remain: human review required

Claims check

The investigation into SEC Form 4 filing SCENARIO-0000000001-25-000008 reveals no violations of insider trading rules.
The claim cites no tool result, so it is unsupported.
Cites no evidence
The insider, SCENARIO OFFICER EIGHT, executed a sale of 50,000 shares totaling $2,000,000.
The tool result confirms the sale of 50,000 shares totaling $2,000,000.
call_1T8GPvQN844VZAWUGqOyiuZW
The sale of 50,000 shares is within the single trade limit of $3,000,000 for a Vice President.
The tool result confirms the single trade limit is $3,000,000 for a Vice President.
call_ayKoTOj4ZHkNoblJ5q9z1KAl
The total trading volume over the last 90 days was $16,000,000.
The tool result confirms the total trading volume over the last 90 days was $16,000,000.
call_ahNwyeQ0a26zKRXxeP1jD2bq
The rolling 90-day limit is $15,000,000.
The tool result confirms the rolling 90-day limit is $15,000,000.
call_ayKoTOj4ZHkNoblJ5q9z1KAl
The transaction value of $2,000,000 is significantly lower than the insider's historical mean transaction value of $14,000,000.
The tool result confirms the historical mean transaction value is $14,000,000, which is higher than $2,000,000.
call_SlhCFEZiNA4qA3kJuopMhM7Q
The transaction value of $2,000,000 is significantly lower than the insider's historical median transaction value of $14,000,000.
The tool result confirms the historical median transaction value is $14,000,000, which is higher than $2,000,000.
call_SlhCFEZiNA4qA3kJuopMhM7Q
There were no blackout periods on the transaction date.
The tool result confirms there were no blackout periods on the transaction date.
call_0BW8ken50HK7JvxfZEwF100w
No compliance rules were violated in this transaction.
The claim cites no tool result, so it is unsupported.
Cites no evidence
The insider's historical mean transaction value is $14,000,000.
The tool result confirms the insider's historical mean transaction value is $14,000,000.
call_SlhCFEZiNA4qA3kJuopMhM7Q
The insider's historical median transaction value is $14,000,000.
The tool result confirms the insider's historical median transaction value is $14,000,000.
call_SlhCFEZiNA4qA3kJuopMhM7Q

Process audit

Checked in code, with no AI judgement. It records how the investigation worked; it never changes the finding.

Required evidence gathered
Every required tool was called.
6 of 6 tools
Transaction details first
The first call was get_transaction_details.
Yes
Citations all real
Some claims cite no evidence at all.
Problem
Exemptions supported
The finding claims no exemption.
None claimed

Run this case yourself

Starts a new live investigation on this filing. It uses the server's model credits, and the result will differ a little from the recorded run.

Re-run this case live

Reasons for concern

What could explain it

Answer key

AI investigator

What the safeguards reported

What decides this case

Total traded in the 90 days before

What this role may trade

Their own trading history

Their own trading history

Other evidence reviewed

The trade as filed

Firm rules checked

Was news about to come out?

Firm rules checked

FindingThe investigation's outcome. Clear means nothing to follow up, flag means an analyst should look, escalate means it needs urgent review.

Exculpatory factorsA fact from the filing that explains a trade innocently, such as tax withholding or an option exercise. Each one applies to a single transaction line, never to the whole filing.

Claims checkOne factual sentence pulled out of the draft so it can be checked on its own.

Process auditA check, done in code, of how the investigation got to its finding: whether it gathered all the evidence, cited only real tool calls and claimed only supported exemptions.

Run this case yourself

Finding

Exculpatory factors

Claims check

Process audit