In Santa Ana, California, former Major League Baseball player Doug DeCinces was charged last month with making $1.3m on tips he got from an executive at a medical eye-products company. In Newark, New Jersey, U.S. prosecutors charged executives at three health-care companies November 19th with trading on illegal information.
'I don’t recall a time in history where this many U.S. attorney’s offices and the SEC have brought so many big insider cases in such a short period', Daniel Hawke, director of the Securities and Exchange Commission’s Market Abuse Unit, said in an interview. 'It shows there’s a high level of activity and energy and coordination'.
The number of people sued by the SEC or charged with insider trading by the Justice Department has more than doubled since 2008, data compiled by Bloomberg shows. There were 56 in 2008, 96 in 2009, 67 in 2010, 104 in 2011 and 125 this year. Of those, 22 percent were linked to trading involving health-care stocks.
Hit the link below to access the complete Bloomberg article:
Wall Street’s Insider Trading Tricks Spread Across U.S.
Ex-SAC Manager’s Indictment Boosts Pressure to Cooperate
Dodd-Frank Swap Rules Delayed Six Months for Overseas Trades
The Alchemists: Three Central Bankers and a World on Fire
Hubris: How HBOS Wrecked the Best Bank in Britain
