Can the SEC bust non-US citizens for insider trading?
Look, I'm not a big brain lawyer or politician, but this seems like a nobrainer. The SEC doesn't have jurisdiction outside of the country, and why would China or Russia (or any non-NATO) participate in extradition just because one of their citizens messed with 'murica's capitalist system?
The plan is simple. Become an investment banker in Shanghai, Hong Kong or any non-NATO country. Get staffed on an acquisition deal. Tell your uncle (in another country) to buy a fuckton of calls in his account on the acquired company/fuckton of puts on the acquirer on the NYSE/NASDAQ (not your country of residence/workplace's exchange).
Now your own country won't give a fuck because it's not their exchange. In fact, they probably don't even know that your uncle was insider trading because he's in another country. Your uncle's country doesn't know you're an insider because you work in another country. The SEC can't do shit because you're both in different countries that don't participate in extradition.
Do this a few times, say fuck you to your MD and retire.
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