DoJ Confirms "Insider Trading" Probe Of HFT

Tyler Durden's picture

And all it took for the FBI, the SEC and now the DOJ to figure out the casino was rigged all along, was for a Michael Lewis book to do their job for them.

  • DOJ PROBING HIGH SPEED TRADING FOR INSIDER TRADING: REUTERS

As WSJ reports,

The Justice Department is investigating high-speed trading practices to determine whether they violate insider-trading laws, Attorney General Eric Holder is expected to tell lawmakers Friday.

 

Mr. Holder, in prepared remarks, said the practice has "rightly received scrutiny from regulators."

 

"The department is committed to ensuring the integrity of our financial markets," Mr. Holder said in testimony about the Justice Department's budget before the House Appropriations Committee. "We are determined to follow this investigation wherever the facts and the law may lead."

 

The Federal Bureau of Investigation said earlier this week that it is probing high-frequency trading. New York Attorney General Eric Schneiderman, the Commodity Futures Trading Commission and the Securities and Exchange Commission are also looking into the practice.