ANALYSIS: New Amendments to Swiss Federal Act on Stock Exchanges and Securities Trading Strengthen Rules on Insider Trading, Introduce Other Important Changes
March 6, 2013 by GlobalLaw
Filed under Financial Services
In September 2012, the Swiss parliament approved a draft bill to revise the Swiss Federal Act on Stock Exchanges and Securities Trading and thus create a more stringent capital market criminal and regulatory law…
Hawke: New Enforcement Tools For New Breed of Inside Traders
February 28, 2013 by GlobalLaw
Filed under Financial Services
Instead of “one-off” insider trading violation involving friends and family members, the SEC’s Enforcement Division currently is seeing instances in which licensed professionals have deliberately misused material nonpublic information with which they were entrusted, Daniel Hawke, chief of the Division’s Market Abuse Unit and director of the Philadelphia Regional Office, told BNA…
U.S. Court Imposes Record $92.8 Million Fine for Insider Trading on Rajaratnam
November 15, 2011 by GlobalLaw
Filed under Financial Services
Billionaire hedge fund manager Raj Rajaratnam, recently handed a record 11-year prison term for masterminding a massive insider trading scheme, was ordered Nov. 8 by the U.S. District Court for the Southern District of New York to pay a record monetary penalty in the SEC’s related enforcement action…
Argentine Government Proposes To Criminalize Insider Trading, Stock Price Manipulation
November 8, 2011 by GlobalLaw
Filed under Financial Services
Minister of Justice and Human Rights submitted a bill to the Argentine Congress to amend the Criminal Code with respect to…
ANALYSIS: Wiretap Evidence Raises the Bar for U.S. Insider Trading Convictions Following Rajaratnam Verdict
July 6, 2011 by GlobalLaw
Filed under Financial Services
The most far-reaching consequences of Raj Rajaratnam’s trial and conviction last month on the 14 securities fraud and conspiracy counts he was facing will undoubtedly result from the fact that the verdict was delivered by jurors who had listened to 45 different wiretap recordings in court…
Guilty Verdict In U.S. Rajaratnam Insider Trading Trial May ‘Embolden’ Federal Prosecutors
May 16, 2011 by GlobalLaw
Filed under Financial Services
The May 11, 2011, guilty verdict in the insider trading trial of former Galleon Management LLC general partner Raj Rajaratnam may “embolden” federal prosecutors to use increasingly aggressive tactics during insider trading cases, former prosecutors told BNA…
Japan’s Financial Services Agency Weighs Tougher Insider Trading Rules
March 15, 2011 by GlobalLaw
Filed under Financial Services
The Japanese Financial Services Agency is considering tougher insider trading rules in response to criticism over information leaks last summer about problems with new stock offerings by publicly listed companies…
U.S. SEC Scores Major Win in Dispute over Wiretaps in Hedge Fund Insider Trading Case
February 11, 2011 by GlobalLaw
Filed under Financial Services
In a major coup for the Securities and Exchange Commission, the U.S. District Court for the Southern District of New York Feb. 1 ordered Galleon Management LP principal Raj Rajaratnam to provide the agency with wiretap evidence obtained by prosecutors in a related criminal case for use in its civil insider trading action (SEC v. Galleon Management LP, S.D.N.Y…
Russian Regulator Issues Guidance on Implementation of New Insider Trading Law
February 7, 2011 by GlobalLaw
Filed under Financial Services
MOSCOW—Russia’s securities regulator has issued guidance on implementation of Russia’s new legislation designed to combat market manipulation and insider trading.