At the beginning of the year, I posted a blog about “Some Resolutions to Consider.”
The Australian Securities and Investments Commission (ASIC) has announced that two Sydney men face "a maximum penalty of [ten] years jail and/or a fine of [A]$765,000" after they pleaded guilty to insider trading.
The United States (US) Securities and Exchange Commission (SEC) has announced that brothers Rodrigo and Michel Terpins have agreed to pay approximately US$5 million to settle an insider trading complaint.
The United States (US) Securities and Exchange Commission (SEC) has announced that the US District Court for the Northern District of Illinois has approved an agreement under which trader Badin Rungruangnavarat is required to pay US$5.2 million to resolve insider trading charges.
The United States (US) Securities and Exchange Commission (SEC) has made available its Complaint (24 July 2013) against former Green Mountain Coffee Roasters (GMCR) systems administrator Chad McGinnis and his friend and business associate Sergey Pugach that relates to insider trading charges.
The United States (US) Securities and Exchange Commission (SEC) has announced that it brought charges against hedge fund adviser Steven Cohen for failing reasonably to provide supervision of portfolio managers Mathew Martoma and Michael Steinberg, with a view to prevent their insider trading under his watch, which has cost their firm over US$615 million.
The Hong Kong (HK) Securities and Futures Commission (SFC) has announced that it has brought proceedings in the Market Misconduct Tribunal (MMT) against Tiger Asia Management (Tiger Asia) and three of its officers regarding security dealings for Bank of China and Chian Construction Bank Corporation during 2008 - 2009.
The United States Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have jointly issued Investor Alert - Don't Trade on Pump-And-Dump Stock Emails (undated), which warns investors against unsolicited emails and other online postings, including on social media, that cite purported "inside" information or "infallible" analyses to recommend purchases of stock in small companies in order to "pump" the stock price, before the scheme operators sell or "dump" their stock at the inflated price.
Reuters reports that it has gained access to a letter addressed to investors from SAC Capital Advisors (SAC) that states the hedge fund will no longer cooperate "unconditionally" with a United States (US) Government investigation into alleged insider trading by current and former SAC employees.
Earlier this week, Judge Richard Sullivan sentenced former hedge fund manager and a founder of Level Global Investors Anthony Chiasson to six and a half years in prison, imposing one of the harshest penalties yet in the U.S. government’s efforts to rid Wall Street of insider trading. Chiasson was also ordered to pay $5 million in fines and must also give back as much as $2 million in illegally obtained proceeds. Chiasson could have received up to ten years in prison which was the recommendation under U.S. federal guidelines based on the profits that Level Global Investors earned on the improper trades.
- Anti-Bribery & Anti-Corruption (115)
- Anti-Money Laundering (101)
- Business Ethics and Corporate Culture (143)
- Careful Communication and Proper Use of Computers (14)
- Code of Conduct (6)
- Competition (164)
- Confidentiality and Intellectual Property (23)
- Conflicts of Interest (15)
- Consumer Protection (277)
- Corporate Responsibility and Sustainability (192)
- Employment and Workplace Issues (314)
- Environment, Health & Safety (133)
- Financial Integrity (172)
- Government Contracting (16)
- Information Security (35)
- Insider Trading (75)
- Other (2)
- Privacy and Data Protection (176)
- Records Management (13)
- Respect in the Workplace (6)