Sure, there are always compromises that can be made and my point wasn't about insider trading specifically, it was that there are tradeoffs to consider. But let's take your example, how long is the blackout period and how long is the open period? I would contend that there is almost no open period short enough that a motivated insider couldn't trade on their non-public knowledge if they were "lucky" enough to have it during the open period, so you're kind of back at square one where you still need the SEC and DoJ to investigate and borderline cases will slip through the cracks. And for everyone else, they've lost some liquidity in case of personal emergency, etc. Again, this isn't to argue against blackout periods specifically, they might be good policy, just pointing out that law and law enforcement is not always easy.