Insider Trading
Herbalife Hires PWC As New Accountant; Will Reaudit 2010, 2011 And 2012
Submitted by Tyler Durden on 05/21/2013 12:13 -0400Following the dismissal of KPMG over insider trading 'issues', Herbalife has just announced it will be hiring PricewaterhouseCoopers as their new auditor:
- *HERBALIFE HIRES PRICEWATERHOUSECOOPERS :HLF US
- *HERBALIFE SAYS PWC TO RE-AUDIT FY10, FY11, FY12 :HLF US
Indications point to a modest rise from the pre-halt close of $49.87. Full PR below:
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Frontrunning: May 21
Submitted by Tyler Durden on 05/21/2013 07:48 -0400- Activist Shareholder
- Allied Capital
- Apple
- Bill Gross
- Bond
- Charlie Ergen
- China
- Cohen
- Corporate Finance
- Crack Cocaine
- Credit Suisse
- Dell
- Deutsche Bank
- European Union
- Ford
- France
- Goldman Sachs
- goldman sachs
- Gross Domestic Product
- Hershey
- India
- Insider Trading
- International Monetary Fund
- Ireland
- Japan
- JPMorgan Chase
- Mexico
- Morgan Stanley
- Newspaper
- Obama Administration
- Oklahoma
- Private Equity
- ratings
- Recession
- Reuters
- SAC
- SocGen
- United States Attorney
- Wall Street Journal
- Yen
- Yuan
- IMF Tells Central Europe to Spend More (WSJ)
- Tornadoes Blast Oklahoma (WSJ)
- Frenetic search for survivors as 91 feared dead in tornado-hit Oklahoma (Reuters)
- JPMorgan investors on edge over vote on Dimon; what if they win? (Reuters)
- Wealthy bank depositors to suffer losses in EU law (Reuters)
- Yen Slips as Amari Backtracks (BBG)
- Japan Ready for More Yen Weakness Despite Recent Comments (WSJ)
- IRS officials back on Capitol Hill hot seat over targeting (Reuters)
- Li Keqiang pledges China boost to India trade (FT)
- Europe's Recession Sparks Grass-Roots Political Push (WSJ)
- Obama and Xi to meet in effort to calm growing US-China rivalry (FT)
- Berlin plans to streamline EU but avoid wholesale treaty change (FT)
- France must reform or face punitive measures - EU's Oettinger (Reuters)
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SACked: Cohen Considers Closing
Submitted by Tyler Durden on 05/20/2013 16:40 -0400It appears that the noose is tightening and the wobbly-chair that Steve Cohen is standing on is getting wobblier... As Bloomberg reports, after five years under investigation for insider trading Steve Cohen is considering a 'deal' with prosecutors that would shut his $15 billion fund to outside investors and (as we noted this morning) shift a family (friends and employees) office.
- *COHEN SAID TO HAVE DISCUSSED DEFERRED PROSECUTION AGREEMENT
- *COHEN SAID TO CONSIDER RETURNING OUTSIDE INVESTORS' MONEY
- *COHEN SAID TO CONSIDER CONTINUING AS A FAMILY OFFICE
The deferred prosecution is intriguing as "when a company enters into a DPA with the government, or an NPA for that matter, it almost always must acknowledge wrongdoing..." and the clock is ticking with the statute of limitations up at the end of July.
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The Juice - News That Matters
Submitted by Pivotfarm on 05/20/2013 07:54 -0400QE Halt Would Be 'Too Violent' for Market: Fed's Fisher
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Is EVERY Market Rigged?
Submitted by George Washington on 05/19/2013 20:38 -0400European Union Launches Investigation Into Manipulation of Oil Prices Since 2002
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Frontrunning: May 14
Submitted by Tyler Durden on 05/14/2013 07:41 -0400- Australia
- Boeing
- Bond
- China
- Commodity Futures Trading Commission
- Corporate Finance
- Dell
- Detroit
- Dreamliner
- European Union
- France
- General Electric
- Germany
- Goldman Sachs
- goldman sachs
- India
- Indiana
- Insider Trading
- International Energy Agency
- JPMorgan Chase
- Kuwait
- Natural Gas
- New York Times
- Newspaper
- OPEC
- Private Equity
- Real estate
- Reuters
- Royal Bank of Scotland
- Securities and Exchange Commission
- Sun Capital
- Third Point
- Verizon
- Wall Street Journal
- Controversies give Obama new governing headaches (Reuters)
- About that Capex... BHP to Rein In Investment, Chief Says (WSJ), considers returning cash to shareholders (FT)
- Bloomberg users’ messages leaked online (FT)
- Japanese mayor sparks China outrage with sex-slave remarks (Reuters)
- Economists Cut China Forecasts (WSJ)
- U.S. oil boom leaves OPEC sidelined from demand growth (Reuters)
- U.S. banks push back on change in loan loss accounting (Reuters)
- Fed’s Plosser Says Slowing Inflation No Concern for Policy (BBG)
- Watchdog probes 1m US swap contracts (FT)
- Used Gold Supply Heads for ’08 Low as Sellers Balk (BBG)
- Ex-BlackRock Manager Said to Be Arrested in U.K. Probe (BBG)
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And For Its Next Trick, JPMorgan Takes Over The SEC
Submitted by Tyler Durden on 05/01/2013 21:14 -0400
JPM wasn't satisfied with demonstrating its implicit control over the US bond issuing authority by promoting Matt Zames to the post of COO, the same Matt Zames who courtesy of his Chairmanship of the TBAC, also effectively runs the US Treasury where he "advises" the brand new Treasury Secretary who has no idea what he is doing. Oh no. Just to cover all its bases, Jamie Dimon's firm decided to also take over the SEC as well.
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Frontrunning: April 23
Submitted by Tyler Durden on 04/23/2013 07:28 -0400- China’s Recovery Falters as Manufacturing Growth Cools (BBG)
- Gloomy eurozone output points to rate cut (FT)
- Limit Austerity, EU appartchik Barroso Says (WSJ)
- Regulators Get Banks to Rein In Bonus Pay (WSJ)
- SEC looks to ease rules for launching ETFs (Reuters)
- Easy come, easy go: U.S. Seizes $21 Million From Electric Car Maker Fisker (WSJ)
- Japan nationalists near disputed isles (Reuters)
- OECD in fresh warning on Japan debt (FT)
- S&P says more than one-third chance of Japan downgrade, cites risks to Abenomics (Reuters)
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Aftershocks
Submitted by Tyler Durden on 04/22/2013 19:15 -0400
If the FBI can track down two homicidal Chechen nobodies inside of forty-eight hours from their Boston bombing caper, you kind of wonder how come the Bureau can’t detect the odor of racketeering, insider trading, and wire fraud in this month’s orchestrated smackdown of the gold futures markets, including the parts played by the Federal reserve, one or more too-big-to-fail banks, self-interested big money players such as George Soros, slumbering regulators at the Commodities Futures Trading Commission, and tractable editors at The Wall Street Journal and The New York Times... Because the smackdown organizers pulled off their operation in a panic, they probably ignored the potential further negative consequences of their stratagem, namely a worsening loss of confidence in banks generally and in the trade of abstract financial instruments in particular
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Reuters Releases George Soros Obituary By Mistake: "Enigmatic Financier, Liberal Philanthropist Dies At XX"
Submitted by Tyler Durden on 04/18/2013 18:04 -0400First CNN, then AP, now Reuters: the entire media is increasingly starting to look like amateur hour. Unless, of course, Soros is like Osama, and had several "reincarnated" body doubles, with the original specimen long gone. Here is our suggestion for another prepared article: "Today after XX centuries of monetizing debt, the Emperor of the Galactic Central Bank, Gaius Maximus Printius Bernankius the DCLXVIth, ended QE in the year of the alien invasion, XXXXX. Bread costs XXXXXXXXXXX."
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Frontrunning: April 18
Submitted by Tyler Durden on 04/18/2013 07:42 -0400- AIG
- American Express
- American International Group
- Apple
- Bank of America
- Bank of America
- Budget Deficit
- Carbon Emissions
- China
- Cohen
- Deutsche Bank
- Dreamliner
- European Union
- Exchange Traded Fund
- Federal Reserve
- France
- GOOG
- Insider Trading
- International Monetary Fund
- Lone Star
- Mexico
- Monetary Policy
- Morgan Stanley
- New Orleans
- Newspaper
- Ohio
- People's Bank Of China
- Primus
- Private Equity
- recovery
- Reuters
- Sallie Mae
- Serious Fraud Office
- Testimony
- Trade War
- United Kingdom
- Wall Street Journal
- Wells Fargo
- Yuan
- Apple reportedly stops placing Mac component orders (DigiTimes)
- Apple Ordered to Remove Obscene Content From China Store (BBG)
- Texas Ammonia-Plant Blast Kills as Many as 15 People (Reuters)
- Boston Probe Said Focused on Person Dropping Bag at Site (BBG)
- The Chinese cold trade war comes come to roost: US becomes Japan’s top export market (FT)
- Berlusconi, Bersani back Marini in presidential vote (Ansa)
- German parliament backs Cyprus bailout (Reuters)
- China Vows Wider Yuan Movement (WSJ)
- Morgan Stanley Sees Core Earnings Weaken (WSJ)
- Gold Miners Lose $169 Billion as Price Slump Adds ETF Pain (BBG)
- G-20 Draft Affirms Pledge to Avoid Competitive Devaluations (BBG)
- IMF warns on risks of excessive easing (FT)
- The battle for the Swiss soul (Reuters)
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Frontrunning: April 17
Submitted by Tyler Durden on 04/17/2013 07:41 -0400- Activist Shareholder
- Barack Obama
- Blackrock
- Boeing
- Bond
- Carl Icahn
- Carlyle
- Central Banks
- China
- Consumer protection
- Copper
- Credit Crisis
- Credit Suisse
- Dell
- Ford
- Germany
- Gold Bugs
- Goldman Sachs
- goldman sachs
- Gross Domestic Product
- India
- Insider Trading
- International Monetary Fund
- Japan
- Keefe
- Medicare
- Netherlands
- Nomura
- North Korea
- Private Equity
- Reuters
- SAC
- Securities and Exchange Commission
- Shadow Banking
- Swiss Banks
- Textron
- Toyota
- United Kingdom
- Verizon
- Wall Street Journal
- Yuan
- Boston bomb probe looking at pressure cooker, backpacks (Reuters), Boston Bomb Clues Surface (WSJ) Forensic Investigators Discover Clues to Boston Bombing (BBG)
- China local authority debt ‘out of control’ (FT)
- Gold Wipes $560 Billion From Central Banks as Equities Rally (BBG)... or the same impact a 2% rise in rates would have on the Fed's balance sheet
- More Wall Street leakage: Stock Surge Linked to Lobbyist (WSJ)
- China's bird flu death toll rises to 16, government warns of spread (Reuters)
- Chinese official endorses monetary easing (FT)
- As global price slumps, "Abenomics" risks drive Japan gold bugs (Reuters)
- North Korea rejects US call for talks (FT)
- IMF Renews Push Against Austerity (WSJ)
- India Gains as Gold Plunge Boosts Scope for Rate Cuts (BBG)
- Germany set to approve Cyprus aid (FT)
- Easing Is an Issue as G-20 Meets (WSJ)
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Congress Exempts Most Federal Workers From Key Insider Trading Reporting Requirement
Submitted by Tyler Durden on 04/13/2013 13:02 -0400Back in 2012, amid "intense pressure from Obama" including an appeal for its passage in his 2012 State of the Union address, Congress passed the Stop Trading on Congressional Knowledge (STOCK) Act (with 96-3 theatrical votes in the Senate, and 417-2 even more theatrical votes in the House) - a bill prohibiting the use of non-public information for private profit, including insider trading by members of Congress and other government employees. It is unclear why until 2012 it was perfectly legal for congress to trade on inside information, something we pointed out in May 2011 when we wrote that a "A Hedge Fund Comprised Of Junior Congressional Democrats Should Outperform The Market By 9%" as it turned out flagrant insider trading abuse occurred mostly within the democrat ranks of the House (compared to a mere 2%+ outperformance by Congressional stock trading republicans). It turns out that any cynical skepticism regarding Congress' ability and willingness to police itself was well founded, as last night the House eliminated a "key requirement of the insider trading law for most federal employees, passing legislation exempting these workers, including congressional staff, from a rule scheduled to take effect next week that mandated online posting of financial transactions."
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Frontrunning: April 12
Submitted by Tyler Durden on 04/12/2013 08:06 -0400- Korean Nuclear Worries Raised (WSJ)
- Och-Ziff, With Strategy from a 30-Year-Old Debt Specialist, Racks Up Big Score (WSJ)
- Japan's big "Abenomics" gamble: how to tell if it's paying off (Reuters)
- Kuroda walks a two-year tightrope (FT)
- China Rebound at Risk as Xi Curbs Officials’ Spending (BBG)
- BOJ Said to Consider Boosting Outlook for Inflation (BBG) - for energy prices? Absolutely: by double digits
- Cyprus May Loosen Bank Restrictions in Days (WSJ)
- Cyprus mulls early EU structural funds (Reuters)
- Russia slashes 2013 growth forecast (FT)
- Japan, U.S. Agree on Trade-Talks Entry (WSJ)
- IMF Trims U.S. Growth Outlook in Draft Report Citing Fiscal Cuts (BBG)
- Mexico Is Picking Up the Peso (WSJ)
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Frontrunning: April 10
Submitted by Tyler Durden on 04/10/2013 07:21 -0400- Apple
- Bond
- Carl Icahn
- China
- Comptroller of the Currency
- Dell
- European Central Bank
- European Union
- Eurozone
- Federal Reserve
- Fisher
- Fitch
- Ford
- Germany
- Insider Trading
- International Monetary Fund
- Jana Partners
- Keefe
- North Korea
- Office of the Comptroller of the Currency
- President Obama
- Private Equity
- ratings
- Reuters
- Royal Bank of Scotland
- Wall Street Journal
- Yen
- Yuan
- Germany: Europe's... poorest? ECB Survey Puts Southerners on Top in Household Wealth, Germans Near Bottom (WSJ)
- Obama Proposes $3.77 Trillion Budget to Revive Debt Talks (BBG)
- China trade data raise accuracy worries (FT) ... but generates so much laughter
- such as this... China Exports Miss Forecasts as ‘Absurd’ Data Probed (BBG)
- S. Korea Braces for ‘Very High’ Chance of North Missile Test (BBG)
- Slovenia, Spain Warned of ‘Excessive’ Economic Imbalances by EU (BBG)
- G8 foreign ministers meet in London to address Syria, North Korea (Reuters)
- N. Korea Threats Boost First South Korea Rate Cut Odds Since October (BBG)
- China Bird Flu Outbreak May Stem From Numerous Sources (BBG)
- Spain Bailout Less Likely on Lower Funding Costs: Moody’s (BBG)
- BOE’s Haldane: Simplify Bank Rules to Strengthen Them (WSJ)
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