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“It is imperative that the [Stop Trading On Congressional Knowledge] Act continues its path through the legislative process without delay,” Reps. Louise Slaughter (D-N.Y.) and Tim Walz (D-Minn.) wrote in a letter today to Congressional leaders. ...
Lauren Corp, proceeds from the sale totaled $359,692. Over the same time period, Joyce Brown has purchased no shares of Ralph Lauren Corp stock. Joyce Brown has also performed other transactions including grants or awards , and exercise of options. ...
House Financial Services Committee ranking member Spencer Bachus (R-AL) speaks during the Reuters Washington Summit in this September 23, 2010 file photo. The chairman of the House Financial Services Committee, Spencer Bachus, which oversees the U.S.... View Photo »
Apple pleaded guilty to one count of conspiracy to commit securities fraud.
Alfred Verrecchia has also performed other transactions including grants or awards , payment of tax liabilites , used transaction code "J" , and exercise of options. Let's take a quick, high-level look at insider trading at Hasbro Inc over the past 12...
If we look over the past 12 months, Goldman Steven Jay has sold no shares of Star Gas Partners LP stock. Over the same time period, Goldman Steven Jay has purchased 3,000 shares of Star Gas Partners LP, with a total cost of $13,090. Let's take a quick,...
Over the same time period, Linda Gooden has purchased no shares of Lockheed Martin Corp stock. Linda Gooden has also performed other transactions including payment of tax liabilites , and exercise of options. Let's take a quick, high-level look at...
WASHINGTON, DC - FEBRUARY 02: U.S. Sen. Kirsten Gillibrand (D-NY) (L) and Sen. Charles Schumer (D-NY) (R) listen during a news conference on the STOCK Act February 2, 2012 on Capitol Hill in Washington, DC. The Senate is scheduled to vote on the... View Photo »
Here we make a solemn declaration: the CSRC has zero tolerance for insider trading and crimes in the securities and futures markets
Over the same time period, Kerry Stemler has purchased 3,271 shares of Community Bank Shares Of Indiana Inc, with a total cost of $34,742. Let's take a quick, high-level look at insider trading at Community Bank Shares Of Indiana Inc over the past 12...
If we look over the past 12 months, Patrick Moore has sold no shares of Ralcorp Holdings Inc /mo stock. Over the same time period, Patrick Moore has purchased 1,000 shares of Ralcorp Holdings Inc /mo, with a total cost of $75,645. Let's take a quick,...
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WASHINGTON, DC - FEBRUARY 02: U.S. Sen. Charles Schumer (D-NY) (C) speaks as Sen. Kirsten Gillibrand (D-NY) (L), and Senate Majority Leader Sen. Harry Reid (D-NV) (R) listen during a news conference on the STOCK Act February 2, 2012 on Capitol Hill in Washington, DC. The Senate is...
View Photo »WASHINGTON, DC - JANUARY 31: (L to R) U.S. Sen. Kirsten Gillibrand (D-NY), U.S. Sen. Scott Brown (R-MA) Senate Homeland Security and Governmental Affairs Committee Chairman Joe Lieberman (I-CT) participate in a during a news conference on Congressional insider trading, on January...
View Photo »WASHINGTON, DC - JANUARY 31: U.S. Sen. Kirsten Gillibrand (D-NY) participates in a news conference about Congressional insider trading on January 31, 2012 in Washington, DC. Gillibrand joined U.S. Joe Lieberman (I-MA) discussed Senate action on 'The Stop Trading on Congressional...
View Photo »House Majority Leader Eric Cantor of Va. , speaks during a news conference on Capitol Hill in Washington, Tuesday, Jan. 31, 2012, to discuss the Stop Trading on Congressional Knowledge Act, or STOCK Act.
View Photo »Sen. Kirsten Gillibrand, D-N.Y. , right, accompanied by Sen. Joe Lieberman, I-Conn. speaks during a news conference on Capitol Hill in Washington, Tuesday, Jan. 31, 2012, to discuss the Stop Trading on Congressional Knowledge Act, or STOCK Act.
View Photo »House Financial Services Committee ranking member Spencer Bachus (R-AL) speaks during the Reuters Washington Summit in this September 23, 2010 file photo. The chairman of the House Financial Services Committee, Spencer Bachus, which oversees the U.S. banking and financial services...
View Photo »Hedge fund manager convicted of insider trading Raj Rajaratnam leaves court after he was sentenced to 11 years in jail, in New York, October 13, 2011. Rajaratnam was sentenced in Manhattan federal court to 11 years in prison stemming from his involvement in the largest hedge fund...
View Photo »Hedge-fund manager convicted of insider trading Raj Rajaratnam arrives at court to hear his sentence in New York, October 13, 2011. Prosecutors are asking U.S. District Judge Richard J. Holwell to send the 54-year-old, one-time billionaire to prison for at least 19 1/2 years for his...
View Photo »Galleon hedge fund founder Raj Rajaratnam departs Manhattan Federal Court in New York in this October 13, 2011, file photo. An amended indictment made public on January 31, 2012, expands the period in which former Goldman Sachs Group Inc director Rajat Gupta supposedly provided illegal...
View Photo »Former McKinsey chief and ex-Goldman Sachs director Rajat Gupta exits the Manhattan Federal Court after attending a pre-trial hearing on insider-trading charges in New York in this January 5, 2012 file photo. Federal prosecutors have expanded their insider trading case against Gupta,...
View Photo »A homeless person (not pictured) asks for money with five signs reading (L-R): "To progress at the profession", "To insider trading","To help the troika", "To off shore" and "To access a business" in Lisbon January 19, 2012.
View Photo »Preet Bharara, US Attorney for the Southern District of New York, speaks at a press conference on January 18, 2012 in New York to announce charges against seven investment professionals who participated in an insider trading scheme that allegedly netted more than 61.8 million USD in illegal...
View Photo »Hedge fund portfolio manager Todd Newman, of Needham, Mass. , leaves the federal court house after his appearance in connection with an insider trading investigation in Boston, Wednesday, Jan. 18, 2012. Nearly $62 million was earned illegally by hedge funds, financial analysts and a...
View Photo »Anthony Chiasson, Level Global Investors LP co-founder leaves Manhattan Federal Court after being released on bail on charges of insider trading Wednesday, Jan. 18, 2012, in New York. Greed on Wall Street set a record, authorities said Wednesday as they unveiled a nearly $78 million...
View Photo »Level Global Investors LP co-founder Anthony Chiasson leaves Manhattan Federal Court in New York after being released on bail on charges of insider trading Wednesday, Jan. 18, 2012.
View Photo »Rajat Gupta (C), the former Goldman Sachs director charged with insider trading as part of the Galleon Group probe, departs from a pre-trial hearing at Federal Court with lawyer Gary Naftalis (R) January 5, 2012 in New York.
View Photo »WASHINGTON, DC - DECEMBER 16: Robert Khuzami (2nd R), Director of the U.S. Securities and Exchange Commission's (SEC) Enforcement Division, announces that the SEC has charged six former top executives of Fannie Mae and Freddie Mac with securities fraud, alleging they approved of...
View Photo »Devens Federal Medical Center is seen in Devens, Mass. , Monday, Dec. 5, 2011, where Raj Rajaratnam, a 54-year-old Sri Lanka native and hedge fund founder, reported to in order to begin his 11-year prison sentence on an insider trading conviction. Rajaratnam's conviction resulted in the...
View Photo »Todd Newman, who headed technology trading for a Boston based hedge fund, Diamondback Capital Management exits United States Court in Manhattan following his court appearance in New York, January 25, 2012. Federal prosecutors charged seven people, described as a circle of friends who...
View Photo »Danny Kuo, a former vice president and technology-fund manager with Whittier Trust Co. in Pasadena, California exits the United States Court in Manhattan with family following his court appearance in New York, January 25, 2012. Federal prosecutors charged seven people, described as a...
View Photo »Michael Kimelman, one of the defendants in the Galleon insider trading trial, leaves the Manhattan Federal Court with a family member following a day of closing arguments in New York June 1, 2011.
View Photo »Zvi Goffer, one of the defendants in the Galleon insider trading trial, leaves the Manhattan Federal Court after a day of closing arguments in New York June 1, 2011.
View Photo »NEW YORK, NY - OCTOBER 26: Rajat Kumar Gupta, former Goldman Sachs board member, leaves a Manhattan court after surrendering to federal authorities October 26, 2011 in New York City. Gupta is charged with conspiracy and securities fraud, stemming from a massive hedge fund insider...
View Photo »Drew "Bo" Brownstein, an owner of a hedge fund leaves Manhattan Federal Court after pleading guilty to securities fraud Friday, Oct. 21, 2011 in New York. Drew "Bo" Brownstein admitted Friday that he made up to $2.5 million in profits on illegal inside trades.
View Photo »NEW YORK, NY - OCTOBER 13: Galleon Group founder Raj Rajaratnam (R) exits Manhattan Federal Court after a sentencing hearing on October 13, 2011 in New York City. Rajaratnam was sentenced to eleven years in prison in a hedge fund insider trading scandal.
View Photo »WASHINGTON, DC - FEBRUARY 02: U.S. Sen. Charles Schumer (D-NY) (C) speaks as Sen. Kirsten Gillibrand (D-NY) (L), and Senate Majority Leader Sen. Harry Reid (D-NV) (R) listen during a news conference on the STOCK Act February 2, 2012 on Capitol Hill in Washington, DC. The Senate is...
View Photo »Apple pleaded guilty to one count of conspiracy to commit securities fraud.
Here we make a solemn declaration: the CSRC has zero tolerance for insider trading and crimes in the securities and futures markets
There is no reason why trading by members of Congress or their staff members would be considered 'exempt' from the federal securities laws, including the insider trading prohibitions
Adopting a new law that explicitly makes insider trading by members of Congress illegal would strengthen the foundations of our national policy and can, in a small way, help repair the breach that exists today because our government and people
Congress has left the formidable task of defining fraudulent insider trading to the SEC and federal courts with the U.S. Supreme Court as the final arbiter
Existing law clearly prohibits insider trading by members of Congress. However, the American public deserves for there to be no question or equivocation concerning members of Congress or any citizen being exempted from laws prohibiting insider trading
While trading by members of Congress or their staff is not exempt from the federal securities laws, including the insider trading prohibitions, there are distinct legal and factual issues that may arise in any investigations or prosecutions of such cases
What could be more arrogant than promising to clean up the insider trading mess, then maneuvering to make it even more difficult to prosecute corrupt lawmakers?
Senator Gillibrand's bill pretends to address the problem but instead guts efforts to outlaw the abhorrent practice of congressional insider trading
Let me be clear – our mission is to pass a strong bill with teeth that will make any and all insider trading clearly illegal and a violation of Congressional rules for all members of Congress, their families and their staff. As we move forward, there will be technical changes in the language to improve ...
Whether or not there is conclusive evidence (that insider trading has occurred)...there ought to be a law that explicitly deters such unethical and illegal activities by members of Congress.
Even if the firms believe they did right and they don't believe they're guilty, going to court is risky because if they lose, and it's firmly established that they are guilty of securities fraud, that's a serious matter ... There's civil liability and loss of business.
This is the true nature of insider trading but this is also the difficulty in preventing and fighting the crime
We need to declare solemnly that the CSRC holds a zero tolerance attitude to crimes in insider trading and futures trading
Everyone knows that insider trading is a huge issue.
The appearance of this is a real problem… in public life, perception matters. If the public think that members of Congress can use their public jobs to make personal financial gains, we’ve got to make it explicitly clear that the law against insider trading relates to members of Congress and their staff
I made a profound mistake, your honor, when I engaged in insider trading
Among the many facts ’60 Minutes’ chose to ignore in their story is that leader Pelosi supports the STOCK Act.
It tells us, for example, that if we would like to have managers who engage less in earnings manipulation and in insider trading, we should look for managers who are more ethical and suffer less from bounded rationality
Members and employees may obtain material nonpublic information about a public company outside of their official duties from friends, family, acquaintances or from their own involvement with a company. If the member or employee chooses to trade on this information, they may have engaged in insider tradi...
You can’t prosecute them for insider trading if they didn’t trade the shares. You may not be able to even reprimand them. What the hell are the rules?
If you were planning on having an extramarital affair, or a clandestine meeting like with a potential new employer, or you were engaged in insider trading, or some sort of conspiracy of questionable legality or morality, it's the perfect place to meet because you could be absolutely certain, or near abs...
Rajaratnam is wrong that Judge Holwell's decision that wiretaps are authorized for insider-trading investigations raises a substantial issue on appeal ... Congress did not, as Rajaratnam argues, restrict the use of wiretapping to exclude insider trading.
Every community needs a sense of camaraderie, and a group that’s willing to step out and say ‘This is what’s going on: we have insider trading in government, and we don’t have anyone respecting us any longer
Citi will put in big red letters on the front cover ‘these mortgages were chosen for you by people who hate you and want you to fail at life,’ and it agrees that failing to do that constitutes securities fraud
