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.... But Davis described its action as “unBritish”. He said at the time: “This is an incredible extension of what constitutes insider trading by the FSA. ... [Read full article on Guardian ]
Saturday 12th of August 2017 07:45:41 PM
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Latest Finance News related to Insider Trading

David Davis linked to City trader fined for insider dealing image
Source : Guardian [Read Article] Saturday 12th of August 2017 07:45:41 PM
.... But Davis described its action as “unBritish”. He said at the time: “This is an incredible extension of what constitutes insider trading by the FSA. ...
Online betting firm 888 investigated by watchdog image
Source : Guardian [Read Article] Monday 15th of May 2017 02:37:15 PM
....The commission does not comment on reviews until it has reached a verdict on whether a company has transgressed the rules of its licence to operate. But unlike some gambling rivals, 888 is listed on the London Stock Exchange and was forced to disclose the review under rules designed to prevent insider trading by people with information that could significantly affect the company. ...
Chinese hackers must pay $9m over insider trading scam image
Source : BBC [Read Article] Thursday 11th of May 2017 12:04:50 PM
....8m (£6. 8m) over a multi-million dollar insider trading scam. ...
Packing a punch image
Source : BBC [Read Article] Sunday 23rd of April 2017 06:58:24 AM
....Critics compare the firm to a vulture capitalist, with a focus on short-term wins in its own interest. In 2014, French regulators fined Elliott for insider trading. ...
Borussia Dortmund bombs: 'Speculator' charged with bus attack image
Source : BBC [Read Article] Friday 21st of April 2017 06:59:39 AM
....He would have made large profits if the team's share price collapsed. Experts have likened the alleged plot to a sophisticated form of insider trading - because he tried to use information not widely available to the public to make money quickly. ...
LSE chief says he'll stay as EU looks set to block Deutsche Börse merger image
.... It’s just a continuation of our strategy,” he added. Rolet would not be drawn on the insider trading investigation into Carsten Kengeter, the Deutsche Börse chief executive who is due to run the enlarged exchange. ...
LSE/Deutsche Börse merger on brink of failure over EU demand image
Source : Guardian [Read Article] Monday 27th of February 2017 01:58:11 AM
....Deutsche Börse chief executive Carsten Kengeter is being investigated over his dealings in Deutsche Börse shares before last year’s takeover announcement. Accusations of insider trading are “without foundation”, the German exchange has said. ...
US cyber fraud: Three men accused of $4m insider deal image
Source : BBC [Read Article] Wednesday 28th of December 2016 08:52:27 AM
....Manhattan Attorney Preet Bharara warned the case should serve as a wake-up call for law firms who now have to worry about cyber fraud in addition to the threat posed by a rogue employee making money out of forthcoming mergers and acquisitions. The three Chinese men have been charged with conspiracy, insider trading, wire fraud and computer intrusion. ...
Revealed: Coutts managed tax haven firms for controversial clients image
Source : Guardian [Read Article] Thursday 1st of December 2016 11:01:45 AM
....5m documents leaked from the archives of the offshore law firm Mossack Fonseca. Emails between Coutts and Mossack show the law firm regarded these individuals as presenting a high risk under criteria designed to combat money laundering: Jefri was ordered by a UK court to repay an estimated $15bn taken from the Brunei sovereign wealth fund, which he chaired; Heikal was charged in 2012 and is awaiting trial for facilitating insider trading, which he denies. ...
The Big Short: is the next financial crisis on its way? image
Source : Guardian [Read Article] Saturday 19th of November 2016 07:00:01 AM
.... He declines to say how much he made during the financial crash, when he was manager of funds at FrontPoint Financial Services, though it was reportedly as much as $1bn. But in 2010 FrontPoint ran into trouble after one of its manager pleaded guilty to insider trading and was given a five-year prison sentence. ...
William Hill and Amaya abandon merger talks image
Source : BBC [Read Article] Tuesday 18th of October 2016 06:26:53 AM
.... . Meanwhile, Amaya's shares have fallen 30% in the past 12 months amid an insider trading investigation into its former chief executive, the threat of a $870m (£710m) fine in Kentucky, and slowing prospects for online poker. ...
Ex-Hanjin Shipping chairwoman investigated over insider trading image
Source : BBC [Read Article] Friday 23rd of September 2016 07:31:01 AM
. The former chairwoman of bankrupt Hanjin Shipping is under investigation for alleged insider trading. ...

City watchdog battles more market abuse and insider trading
 image
Source : Telegraph [Read Article] Tuesday 12th of July 2016 07:03:45 PM
...
Former Schroders trader jailed for two years for insider trading image
Source : Guardian [Read Article] Monday 13th of June 2016 05:50:20 PM
. Damian Clarke, a former equities trader at Schroders Investment Management, has been sentenced to two years in prison for insider trading. ...
How £14m investigation snared Deutsche Bank insider trading ring image
Source : Guardian [Read Article] Thursday 12th of May 2016 12:35:03 PM
.... Yet all around there were hidden eyes and ears trained on the activities taking place in a small office located on nearby Grosvenor Place. For a year, a team led by the Financial Services Authority (FSA) alongside colleagues from the Serious Organised Crime Agency (Soca), had been tracking a suspected insider trading ring as part of Operation Tabernula. ...
Ex-Deutsche Bank executive given four-and-a-half years for insider trading image
.... It is the longest UK prison term handed down for the crime. Related: How painstaking investigation snared Deutsche Bank insider trading ring. ...
WH Ireland fined for oversight failure image
Source : BBC [Read Article] Tuesday 23rd of February 2016 01:27:23 PM
....It has also been stopped from taking on new clients for 72 days. The FCA said the company had failed to act on previous advice and had not put controls in to prevent or detect insider trading. ...
Barclays fined over 'dark pool' trading image
Source : BBC [Read Article] Sunday 31st of January 2016 10:37:21 PM
.... And your unknown nemesis out there on the market wins because they bought their shares before you could buy the shares yourself - and can now sell them at a higher price - to you. In the old days you might suspect insider trading: your broker, or someone else with insider knowledge, has illegally tipped off a mate. ...
Showtime's Billions enters tricky world of Wall Street drama and delivers image
....Cohen didn’t face criminal charges himself. He neither admitted nor denied guilt in settling regulatory charges associated with failure to supervise an employee who was one of six SAC traders who later admitted charges of insider trading. ...
£7.4m insider dealing ring used burner phones and code names, court hears image
Source : Guardian [Read Article] Thursday 14th of January 2016 06:22:07 PM
....Hind is said to have used unregistered pay-as-you-go mobile phones – often known as burners – to communicate with Anderson and Parvizi. The two traders, who referred to Hind as “Nobu”, were already extremely active spread betters so insider trading carried out under cover of their day-to-day dealings was unlikely to ring alarm bells among City regulators, Ellison said. ...
Is Trading Places the best financial film ever? image
Source : Guardian [Read Article] Saturday 26th of December 2015 10:00:22 AM
....Jam-packed with quotable one-liners, Wall Street ruthlessly – and enjoyably – portrays the inner workings of financial capitalism, 1980s style. The sleekly amoral Gordon Gekko, played by Michael Douglas, makes a fortune through insider trading, share ramping, and asset-stripping, and his protege Bud Fox, played by a young Charlie Sheen, comes along for the ride. ...
Pharmaceutical (and Wu-Tang) villain Martin Shkreli has courted controversy image
Source : Guardian [Read Article] Thursday 17th of December 2015 08:36:51 PM
....Known as much for his insolent grin, flame-thrower interviews and bizarre publicity antics as his business activities, Shkreli looked unusually subdued after being arrested, his gray hoodie matching his pallor outside a courthouse in Brooklyn on a damp day. The charges against him relate to insider trading, not the more recent tactic by his company of alleged price-gouging of life-saving drugs that earned him the “hated” label, and opprobrium from Congress. ...
Martin Shkreli arrested by FBI over hedge fund investigation image
Source : Guardian [Read Article] Thursday 17th of December 2015 12:28:40 PM
....Shkreli started Retrophin in 2011 and was later ousted as chief executive officer and sued by its board. In lawsuits filed in New York Shkreli has been accused of insider trading and making “materially false and misleading statements” that “artificially inflated” the company’s stock price. ...
China tycoon 'assisting' authorities amid corruption crackdown image
Source : Telegraph [Read Article] Friday 11th of December 2015 09:06:46 AM
.... . Several of its top executives have been held since August, as part of investigation which Xinhua said centred on “alleged insider trading and information leakage. ...
Chinese investment bankers missing image
Source : Guardian [Read Article] Monday 7th of December 2015 08:38:20 AM
....In August, the official Xinhua news agency said eight Citic employees were being investigated for illegal stock trading. The following month, the police ministry said Citic executives including its general manager, Cheng Boming, were suspected of insider trading and leaking sensitive information. ...
Chinese stocks plunge as regulators widen probe into market image
Source : Telegraph [Read Article] Friday 27th of November 2015 07:51:47 AM
.... . Earlier this week, Citic Securities, the country's largest broker, said it was being investigated over violations, following inquiries into several of its executives for insider trading. ...
Big China brokerage in $166bn error image
Source : BBC [Read Article] Wednesday 25th of November 2015 06:47:53 AM
....Citic said the error occurred due to a system upgrade and has been corrected. Probes have resulted in executives confessing to insider trading at Citic. ...
Morrisons sued by 2,000 staff over data breach image
Source : Telegraph [Read Article] Tuesday 27th of October 2015 01:37:47 PM
.... . It is also a further embarrassment for the grocer after a former Morrisons senior executive, Paul Coyle, was jailed for 12 months for insider trading in March. ...
Elliott Advisors swings to a loss image
Source : Telegraph [Read Article] Saturday 10th of October 2015 06:00:39 PM
. The British office of Elliott, the hedge fund that waged war on the investment firm Alliance Trust, has fallen to a loss as its revenues declined and it was hit by a fine for insider trading in France. ...
SEC's 'broken windows' policing of Wall Street 'deeply flawed' or necessary? image
.... But as Marc Fagel of Gibson, Dunn pointed out, the big enforcement “sweeps” that generated some of those cases about which Velikonja writes dismissively draw attention early to precisely the kind of companies that history suggests are most ripe for future frauds: those without current financial reports. Moreover, what the SEC has done doesn’t necessarily tell us what it is working on or will work on in future: an active and aggressive enforcement division (even if it’s only writing the equivalent of parking tickets today) might be in the early stages of developing a complex fraud or insider trading case, or be better prepared to spot a rogue trader in the early stages of his shenanigans as a result of their small-scale enforcement activities. ...
Fallout from China stock plunge continues as securities official accused image
Source : Guardian [Read Article] Thursday 17th of September 2015 06:39:20 AM
.... Those moves suggested the ruling party might be trying to deflect blame for the decline, which prompted a multi-billion dollar government intervention. On Tuesday the police ministry announced executives of China’s biggest stock brokerage, state-owned Citic Securities, were suspected of insider trading and leaking sensitive information. ...
China brokerage shares fall on probe image
Source : BBC [Read Article] Wednesday 16th of September 2015 03:31:52 AM
....Shares of China's largest brokerage, state-owned Citic Securities, fell as much as 4% after it said three executives, including its president, were under police investigation. The executives are being investigated for suspected insider trading and "leaking inside" information. ...
Shanghai stocks close up nearly 5% image
Source : BBC [Read Article] Wednesday 16th of September 2015 01:49:11 AM
....Investors shrugged off news that shares in China's largest brokerage, Citic Securities, had fallen as much as 4%. The share fall came after it was announced three of the firm's executives, including its president, were under police investigation for suspected insider trading and "leaking" inside information. ...
Brazil's continuing corruption problem image
Source : BBC [Read Article] Tuesday 15th of September 2015 11:02:21 PM
....Take the case of former billionaire Eike Batista, once the richest man in the country. He fell from grace last year after his energy, mining and shipbuilding empire collapsed, and he was charged with insider trading and market manipulation, charges he denies. ...
A Chinese journalist has appeared on state television 'confessing' to causing the stock market chaos image
.... Caijing said it had not been given a reason for his detention. Liu Shufan, an official with the China Securities Regulatory Commission (CSRC), confessed to crimes including insider trading, using his position to boost a listed company’s share price in return for bribes. ...
Paddy Power and Betfair still need to win over shareholders image
Source : Guardian [Read Article] Wednesday 26th of August 2015 06:20:40 PM
....A month after they jokingly tweeted that Paddy Power was merging with Betfair to create Betty Power, guess what? Paddy Power has announced it is merging with Betfair. The company insists that its team of tweeters had no idea a deal was in the offing and the Financial Conduct Authority does not seem too fussed about the risk of insider trading either. ...
Source : Independent [Read Article] Friday 14th of August 2015 12:40:33 AM
. UK share brokers were allegedly used by a cyber hacking and insider trading ring to make more than $20 million in illegal profits, court documents reveal. ...
US authorities break up 'insider trading ring' that used Ukrainian hackers image
Source : Telegraph [Read Article] Tuesday 11th of August 2015 06:44:26 PM
. An insider trading ring has hacked into stores of corporate press releases to profit from the market-moving news, according to the US authorities. ...
32 charged over insider trade 'hack' image
Source : BBC [Read Article] Tuesday 11th of August 2015 01:36:20 PM
. US authorities have now charged 32 members of an alleged international hacking and insider trading ring. ...
RBS sell-off: Hedge funds investigated for making millions 'at taxpayer's expense' image
.... If this resulted in the Government getting a lower price for the shares it sold – as would be expected – that would mean hedge-fund traders benefited at the taxpayer’s expense. The Financial Conduct Authority confirmed that the case would come under its jurisdiction to assess whether there was any evidence of insider trading. ...
Toshiba scandal is a lesson for all directors asleep at the back image
Source : Telegraph [Read Article] Tuesday 21st of July 2015 08:24:26 PM
.... Daniel Loeb of Three Point sold out of Sony last year, booking a 20pc profit, after more than a year of agitating for job cuts and spin-offs. Yoshiaki Murakami, the man credited with making Japan’s first hostile takeover bid in 2000, has recently returned to the market following a conviction in 2007 for insider trading. ...
....Mr Hayward is being replaced as chief executive by Murat Ozgul, currently the head of Genel’s operations in its core business in Turkey and Kurdistan. Five years ago Mr Ozgul was fined £105,240 by the Financial Services Authority for insider trading in London-listed Heritage Oil. ...
Insider trading and market abuse falls sharply image
Source : Telegraph [Read Article] Thursday 2nd of July 2015 09:23:52 PM
.... . In the last year the Financial Conduct Authority has handed out heavy fines to banks for foreign exchange benchmark manipulation, while prosecutions for insider trading include former Morrisons treasurer Paul Coyle and ex-hedge fund trader Julian Rifat. ...
Two FCA directors scoop £157,000 in bonuses image
Source : Guardian [Read Article] Thursday 2nd of July 2015 04:53:30 PM
.... In its half-yearly assessment of the risks in the financial system, the Bank said the impact from fines was wider than the financial hit to banks, with its agents around the UK finding evidence that small businesses were avoiding borrowing from banks because of their reputation. While the FCA is levying record fines, it found that suspicious trading in shares ahead of takeovers – a potential sign of the scale of insider trading – had fallen to a low of 14% from 15% previously. ...
Source : Independent [Read Article] Thursday 25th of June 2015 12:31:36 AM
....In this case, the charge looks a bit unfair. If we want the FCA to scrutinise the books of every dodgy-looking company in the UK – as well as hunting down rate-riggers at the banks and busting insider trading rings – we’re going to need a much bigger regulator. ...
Martha Stewart Living sold for $353m image
Source : BBC [Read Article] Monday 22nd of June 2015 06:49:59 PM
....Sales have been falling in the company for the past few years and its image suffered after Ms Stewart was jailed for five months. The prison sentence was for an insider trading scandal. ...
Martha Stewart Living to be acquired for $353m image
Source : Telegraph [Read Article] Monday 22nd of June 2015 06:32:56 PM
.... • Martha Stewart may be a convicted felon, but she's my number one business hero . • Home guru Stewart to face insider trading suit . ...
Back to basics reform needed if 'Wall Street ethics' is not to be an oxymoron image
.... It’s certainly lucrative for the banks – and the odds are the sheer magnitude of those profits has something to do with a readiness to protect a system that generates such lavish rewards, even if it requires closing one’s eyes to misbehavior. In such an environment, the temptations for malfeasance are huge; the risks minimal – despite the SEC’s big crackdown on insider trading. ...
The Observer view on making bankers pay for their misdeeds image
Source : Guardian [Read Article] Saturday 23rd of May 2015 11:04:10 PM
.... And the shocking findings of a survey of bankers published last week suggested it remains a long way off. A quarter of bankers earning $500,000 a year or more told researchers they would conduct insider trading if it would net them $10m and no one would find out. ...
Wall Street wolves still on the prowl as survey reveals taste for unethical tactics image
.... According to a report released on Tuesday a third of financial executives who said they made more than $500,000 annually “have witnessed or have firsthand knowledge of wrongdoing in the workplace”. A quarter would conduct insider trading if they were guaranteed $10m – and knew they would get away with it. ...
Airbus shares slide after A400M Seville crash image
Source : Telegraph [Read Article] Monday 11th of May 2015 07:00:18 AM
.... . Shares resumed trading as French prosecutors decided to formally abandon insider trading charges against current and former Airbus managers on Monday. ...
City firms could face record-breaking fines for misconduct, warns regulator image
.... Merrill Lynch International has failed to get this right again – despite a private warning, a previous fine, and extensive FCA guidance and enforcement action in this area,” Philippou said. “Accurate and timely reporting of transactions is crucial for us to perform effective surveillance for insider trading and market manipulation in support of our objective to ensure that markets work well and with integrity. ...
US bank Merrill Lynch fined record £13.3million for UK reporting errors  image
Source : Daily Express [Read Article] Wednesday 22nd of April 2015 10:15:00 AM
....“The size of the fine sends a clear message that we expect to be heard and understood across the industry. “Accurate and timely reporting of transactions is crucial for us to perform effective surveillance for insider trading and market manipulation in support of our objective to ensure that markets work well and with integrity. ...
In defence of the Asian Infrastructure Investment Bank image
Source : Guardian [Read Article] Tuesday 14th of April 2015 02:57:24 PM
....” But in a world with such huge infrastructure needs, the problem is not a surplus of savings or a deficiency of good investment opportunities. The problem is a financial system that has excelled at enabling market manipulation, speculation, and insider trading, but has failed at its core task: intermediating savings and investment on a global scale. ...
Disgraced former hedge fund manager Julian Rifat jailed for insider trading image
. The disgraced former hedge fund manager Julian Rifat was yesterday sentenced to 19 months in jail for taking part in a £285,000 insider trading scandal. ...
Operation Tabernula: The story of the biggest insider trading investigation in UK history image
.... On Thursday, Rifat became the last of the trio to be sentenced, being sent to jail for 19 months. It puts an end to the first chapter of Operation Tabernula, the UK’s largest ever insider trading investigation. ...
Ex Moore Capital trader Julian Rifat jailed for insider trading image
Source : Telegraph [Read Article] Thursday 19th of March 2015 05:34:41 PM
. A former trader at the hedge fund Moore Capital has been jailed for 19 months for insider trading. ...
Former Morrisons executive Paul Coyle jailed for insider trading  image
. The former treasurer and head of tax at Morrisons supermarkets has been jailed for 12 months after pleading guilty to two counts of insider trading. ...
Former Morrisons treasurer jailed for insider trading image
Source : Telegraph [Read Article] Tuesday 3rd of March 2015 03:49:38 PM
. A former senior executive at Wm Morrison has been jailed for 12 months for insider trading. ...
Dear David Potts, here's how to get Morrisons back on track image
Source : Telegraph [Read Article] Thursday 26th of February 2015 08:32:45 PM
.... Standards have also slipped in Morrisons’ offices. Last year a member of staff was arrested for leaking payroll data and the former treasurer and head of tax was charged with insider trading for buying shares in Ocado just before the online partnership with Morrisons was announced. ...
Former Logica employee pleads guilty to insider dealing image
Source : Telegraph [Read Article] Thursday 26th of February 2015 02:34:02 PM
.... Mr Willmott, aged 33 and formerly the group’s reporting and financial planning manager, has admitted three counts of insider dealing and will be sentenced on March 26. The maximum sentence for insider trading is a fine and seven years in prison. ...
Judge spotted driving billionaire's seized Porsche said it was 'exposed to sun' image
.... . Flavio Roberto de Souza, who is overseeing Batista's trial for insider trading, was seen driving the white Porsche Cayenne by reporters for Estado de S. ...
Euro plunges 40 per cent against Swiss franc as Zurich abandons currency cap image
Source : Independent [Read Article] Friday 16th of January 2015 12:54:47 AM
.... “Words fail me,” said Nick Hayek, the chief executive of Swatch, adding that the decision would create a “tsunami” for the Swiss export industry and the entire economy. The questions over the SNB’s competence come three years after it was embroiled in controversy over an alleged insider trading scandal. ...
Ashti Hawrami: Iraq could be Opec's second largest oil exporter image
Source : Telegraph [Read Article] Saturday 20th of December 2014 02:15:25 PM
.... However, his close links with the UK, where he worked as an oil engineer in the North Sea in the 1970s, have also come with some controversy. In 2013 he was cited in evidence used in an insider trading case brought against the high profile City banker Ian Hannam in relation to shares Mr Hawrami bought in Heritage Oil - a client of Mr Hannam at the time. ...
Camden Market stall holders in 'state of fear' over development plans image
Source : Independent [Read Article] Friday 19th of December 2014 04:33:49 PM
.... In October he completed a £500m series of deals to purchase Camden Lock market, bringing the seven markets in Camden under single ownership for the first time. Market traders in Camden complain that rents have already gone up by 20 per cent and are worried about a loss of the area’s soul (Getty) Traders complain that his firm immediately jacked up rents by as much as 20 per cent on some pitches and point to his colourful past; in 1994 he was jailed for nine months in Israel after pleaded guilty on charges of grave deceit, bribery and insider trading. ...
Hackers release malware that can wipe your hard drive, FBI warns image
Source : Telegraph [Read Article] Monday 1st of December 2014 11:29:12 PM
.... . FireEye said in a report that it believed that the group had "deep familiarity with business deals" and that it was using the information to conduct insider trading. ...
Hackers are targeting public companies for insider information image
Source : Telegraph [Read Article] Monday 1st of December 2014 02:57:09 PM
.... . California-based FireEye said in a report that it believed that FIN4 was a group of people with "deep familiarity with business deals" and that it was using the information to conduct insider trading. ...
US hedge fund builds stake in Secure Trust image
Source : Telegraph [Read Article] Saturday 8th of November 2014 07:23:41 PM
.... Mr Cohen, founder of hedge fund SAC Capital Advisors, is thought to be worth about $10bn. Following a settlement over allegations of insider trading, SAC was shut down and transformed into a family office called Point72. ...
Former Moore Capital trader admits insider dealing image
Source : Telegraph [Read Article] Friday 7th of November 2014 11:51:27 PM
.... . Julian Rifat is the third person to admit guilt in the Financial Conduct Authority’s biggest ever investigation into insider trading rings, code-named Operation Tabernula. ...
Source : Independent [Read Article] Friday 7th of November 2014 11:35:02 PM
. The City watchdog has claimed its most senior scalp yet in what has become Britain’s biggest and most complex insider trading case to date. ...
Why is Preet Bharara, the 'scourge of Wall Street', taking a friendly tone towards mortgage bankers? image
....”. The words come from Preet Bharara, the US attorney for the southern district of New York, who prosecuted more Wall Streeters for insider trading than anyone who came before him. ...
Former China mining head extradited to Australia image
Source : BBC [Read Article] Friday 10th of October 2014 06:44:31 AM
. A former Chinese mining firm executive on the run from insider trading charges has been extradited to Australia. ...

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