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’Evil speculators vs Mickey Mouse
Breaking news, via the SEC, from the home of Mickey Mouse on Wednesday (emphasis ours):
The SEC alleges Bonnie Jean Hoxie — an administrative assistant to a high-level Disney executive — and her boyfriend Yonni Sebbag sent anonymous letters in March 2010 to more than 20 hedge funds in the U.S.
Taiwan makes it harder to prosecute insider trading
Would-be insider traders located in either London or New York — both have which have been aggressively prosecuting alleged securities misdemeanors — may want to consider moving to Taipei.
According to a report by the China Economic News Service (and a similar story in the China Post),
US lawmakers free to continue their short selling, speculative ways
On Monday, the Wall Street Journal reported that “some members of Congress made risky bets with their own money that US stocks or bonds would fall during the financial crisis”.
On Wednesday, the newspaper published a follow-up,
Introducing SocGen’s ‘leak-o-meter’
Counter-intuitive, this one. Click to enlarge.
This is a list of stocks Société Générale thinks you should avoid — because, er, they might get taken over, or go up for some other random reason,
Welcome to the brave new world of insider trading investigations
Listen up hedgies, traders and investment bankers: you are being very closely watched indeed.
Regulators on both side of the Atlantic appear to have adopted a shock-and-awe campaign as far as cracking down on insider trading is concerned.
You say ‘potato’, I say ‘frequent flyer miles’
Forget Octopussy, Greeks and bat phones. Never mind Blue Horseshoes and Anacott Steel. The latest lingo in (alleged) insider trading is all about vegetables and frequent flyer miles.
Late on Wednesday,
Who is Julian Rifat?
Early on Tuesday morning in London, traders were abuzz with speculation as to the identities of six men arrested in a joint operation by the UK’s regulator and the Serious Organised Crime Agency (SOCA).
Breaking insider trading news of the day…
Hot off the wire from Reuters on Tuesday:
RTRS- UK’S FSA – SIX ARRESTED IN FSA AND SOCA INSIDER DEALING INVESTIGATION
London, March 23 (Reuters) – Financial Services Authority:
* six arrested in
SEC accuses ex-Lazard, TPG employees of insider trading
Insider trading – it’s the new black.
The SEC on Wednesday accused a former vice president and investment banker at Lazard Freres and a former associate at private equity firm TPG Capital of “serial insider trading”.
SEC manages to win an insider trading case
What’s this? Has the SEC managed to successfully prosecute someone for insider trading?
Looks like it, according to Reuters:
Federal securities regulators won an insider trading case when a jury in Boston ruled that a former Fidelity employee illegally profited from trading stocks that the mutual fund giant was buying for itself.
[Galleon] Raj Rajaratnam denies allegations of insider trading
Raj Rajaratnam, the billionaire founder of the Galleon hedge fund accused by the US Securities and Exchange Commission of insider trading, has rejected the charges against him.
In a court filing on Tuesday,
Dear derivatives traders: the SEC is watching you
Robert Khuzami, the SEC’s resident bulldog and chief of enforcement, had a warning for participants in the derivatives market on Monday.
As Bloomberg reported:
“The days of insider-trading scrutiny being focused almost solely on the equity markets are now gone,”
The US v. Cioffi and Tannin, or how not to scare would-be fraudsters
The post-Madoff campaign by US regulators and federal prosecutors to portray themselves as tough on (white collar) crime was dealt a blow on Tuesday, when a jury cleared two former Bear Stearns hedge fund managers of all the charges against them.
Chinese takeout: FSA insider trading crackdown continues
The UK’s financial regulator has struck again, and this time the FSA has nailed the big boys.
From the regulator on Wednesday:
FSA/PN/149/2009
04 November 2009
FORMER CORPORATE BROKER INTERN AND FATHER FOUND GUILTY OF INSIDER DEALING
Matthew Uberoi and his father,
Insiders selling this rally
The Pragmatic Capitalist points us to a recent development: In the midst of the current rally, insider buying has slowed to a trickle.
Here’s his chart of insider buying (in dollar amounts), which, if accurate,
SEC launches first-ever CDS insider trading case
Opponents of credit default swaps — and the chief executives of major investment banks — have long argued that vile speculators used CDS contracts to manipulate (by which they mean, drive down) share prices.
Insider trading goes mainstream
… and has made it on to the front page of the Independent along with picture of a dealing desk from 1980s, which is presumably some sort of nod to Oliver Stone’s film Wall Street.
The reason for the Indy’s sudden interest in insider dealing is an interview with the FSA’s head of enforcement Margaret Cole,