In this article, Margot Laporte discusses recent SEC enforcement actions that underscore asset managers’ critical duties to maintain the confidentiality of both the managers' own and their clients' valuable information. These actions, Laporte says, call for in-house counsel and compliance staffs to reexamine within their own firms the practice among investment analysts of sharing confidential information, such as their investment theses and strategic views about issuers, with counterparts at other asset managers.