Insider Trading

Frontrunning: June 23

  • ‘Brexit’ Vote: U.K. Heads to the Polls in Historic Referendum on EU Membership (WSJ)
  • The Brits Have No Good Options on Europe Vote (BBG)
  • Stocks Rise With U.S. Futures as Pound Gains While U.K. Votes (BBG)
  • Trump and Clinton Place Bets to Woo Undecided Voters (BBG)
  • China brushes off doubts over support on South China Sea, says it is growing (Reuters)

Frontrunning: June 22

  • Nervy global investors revisit 1930s playbook (Reuters)
  • Stocks Trade Near Week High Before Brexit Vote; Commodities Gain (BBG)
  • Yellen May Face Tougher Crowd in House Appearance (WSJ)
  • In SolarCity Bid, Tesla’s Musk Targets Customers Wanting All (BBG)
  • Trump to detour from campaign to visit Scotland golf properties (Reuters)

Hedge Fund Manager Charged In Insider Trading Case Commits Suicide

Last week, we reported on the historic insider trading bust that took place at the soon to be sold Visium Capital, in which, among other accusations, U.S. Attorney Preet Bharara in Manhattan charged Sanjay Valvani of fraudulently making $25 million by gaining advance word about U.S. Food and Drug Administration approvals of generic drug applications. Moments ago, Dow Jones reported that the same Sanjay Valvani, charged in the Visiuam insider trading case, was found dead this morning in an apparent suicide.

Theft Of Opportunity - The Impact Of Reg NMS On The Retail Investor

Regulation NMS made its first major impact with the introduction of “Payment For Order Flow”, which when paired with sub-penny pricing, is now directly responsible for birthing a new gold rush within the capital markets. The dawn of the High Frequency Trading (HFT) community we witness today. The result of this policy is an insurmountable, unequal, and unjust advantage for self-dealing BD’s and HFT’s, at the expense of the market’s retail level investors.

The Rise Of The Meta Criminal: Is The NSA Manipulating The Stock Market?

Embedded deep in the much-heralded December 2013 White House task force report on spying and snooping, under recommendations, is this nugget: “Governments should not use their offensive cyber capabilities to change the amounts held in financial accounts or otherwise manipulate financial systems.” We quite rightly wondered: why were these warnings in the report?

Feds Probing Potential Insider Trading By Senator Bob Corker

A real-estate firm that has been a favored investment of Sen. Bob Corker, R-Tenn. is under investigation by federal law-enforcement officials for alleged accounting fraud. The FBI and the SEC are focusing their examination of CBL & Associates Properties on whether officials at the Chattanooga, Tenn., company falsified information on financial statements to banks when applying for financing arrangements. The FBI and SEC are also inquiring into the trades of Bob Corker who has made millions of dollars in profits trading the company’s stock in recent years

Taliban Leader Mansour Killed In US Drone Strike Inside Pakistan

The United States conducted a drone strike on Saturday against the leader of Afghan Taliban, Mullah Akhtar Mansour, likely killing him on the Pakistan side of the remote border region with Afghanistan in a mission authorized by U.S. President Barack Obama. The assassination could further fracture the Taliban - an outcome that experts cautioned might make the insurgents even less likely to participate in long-stalled peace efforts. Alternatively, it could lead to far more violent and deadly retaliation against the US both in Afghanistan and around the world.

Frontrunning: May 20

  • Lacking new ideas, G7 to agree on 'go-your-own-way' approach (Reuters)
  • Japan's Aso tells G7 FX stability vital, no competitive devaluations (Reuters)
  • Snubbed by West, Russia rolls out red carpet for Asian leaders (Reuters)
  • The Fed Has Something to Prove to Wall Street (BBG)
  • Trump's Supreme Court list: all conservative, some provocative (Reuters)
  • Nasdaq Raises Lawsuit Threat Over SEC’s IEX Speed-Bump Plan (WSJ)

Preet Bharara Press Conference On Dean Foods Insider Trading Scandal That Snagged Phil Mickelson

Over a decade ago, the US cracked down on Marth Stewart as an example of all that is wrong with the US financial system. The same US which did not put any  bankers in prison after the financial crisis. We now get a repeat. The United States Attorney for the Southern District of New York Preet Bharara announces charges against William “Billy” Walters and Thomas Davis, the former Chairman of the Board of Directors of Dean Foods Company, for insider trading.

Mickelson Responds To Insider Trading Scandal: Will Return All Illegal Profits, "Move On"

"[Mickelson] has entered into an agreement with the SEC under which he will return all the money he made on that 2012 investment. Phil understands and deeply respects the high professional and ethical standards that the companies he represents expect of their employees, associates and of Phil himself. He subscribes to the same values and regrets any appearance that, on this occasion, he fell short. He takes full responsibility for the decisions and associations that led him to becoming part of this investigation."

Phil Mickelson Charged In Insider Trading Scam, Accused Of Illegal $931,000 Profit

Having denied any investigation as "inflammatory and speculative" when the Phil Mickelson insider-trading brouhaha initialy erupted two years ago, it appears the golfer's lawyers may have to shift from the "deny deny deny" defense to "let's make a deal."  Having been unable to pin anything on Wall Street insider Carl Icahn, Vegas sports gambler Billy Walters, and pro-golfer Mickelson with regard their trading in Clorox (during Icahn's takeover bid); the SEC has arrested Walters and announced criminal charges against Dean Foods' Chairman Thomas Davis (who stepped down after suspicions of leaking insider tips) and after generating nearly $1million in profits from the Dean Foods trading tip Phil Mickelson is charged with insider trading and wilb be forced to disgorge ill-gotten gains.

Frontrunning: May 13

  • Nerves dominate before U.S. retail numbers (Reuters)
  • Stocks Give Up Week’s Gains as Commodities Fall; Yen, Bonds Rise (BBG)
  • Apple Invests $1 Billion in Didi, Uber’s Rival in China (WSJ)
  • Dollar hits two-week high, posts best fortnight since February (Reuters)
  • OPEC Sees Rival Oil Production Declining as Markets Rebalance (WSJ)
  • Trump on best behavior as he woos Republicans but differences remain (Reuters)