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Insider Trading

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  • Conrad Black arriving at a federal courthouse on June 18, 2007.

    A lawyer for former media baron Conrad Black urged the Supreme Court Tuesday to overturn his fraud conviction, and several justices asked whether the federal law at issue was too vague.

  • Disgraced financier Bernard Madoff's longtime auditor has entered a guilty plea in a federal court in Manhattan.

  • Hints of Missed Chance to Pursue Galleon Case Friday, 30 Oct 2009 | 10:33 AM ET

    The first tip from inside Intel reached Raj Rajaratnam more than a decade ago — from the same source who has now turned against him in the biggest insider-trading case in a generation, says the New York Times.

  • The central witness in a federal insider trading case against Raj Rajaratnam, founder of the Galleon hedge fund, has a more than 10-year history of passing on privileged information to the fund, according to federal court documents.

  • Financial Woes Plagued Galleon Informant Thursday, 22 Oct 2009 | 10:25 AM ET

    Roomy Khan, the central witness who brought down the Galleon hedge fund, is a former Galleon employee with a history of financial trouble who agreed to cooperate with prosecutors after she was caught making trades using inside information, the New York Times reports.

  • In Fraud Case, a Deal That Lost Millions Wednesday, 21 Oct 2009 | 12:16 PM ET
    Raj Rajaratnam

    If Mr. Raj Rajaratnam was trading on insider information, as authorities claim, apparently he was not very good at it, the New York Times reports.

  • Galleon Preparing to Unwind its Hedge Fund Holdings Wednesday, 21 Oct 2009 | 9:41 AM ET
    Raj Rajaratnam

    Galleon Group is winding down its hedge fund holdings, the company's embattled CEO Raj Rajaratnam said in a statement.

  • Son of NYC Socialite Astor Could Get 25 Years Friday, 9 Oct 2009 | 9:27 AM ET

    Philanthropist Brooke Astor's 85-year-old son had it all but wanted more, and now he might have to face his remaining years in a stark prison cell after being convicted of looting his ailing mother's nearly $200 million estate.

  • The Supreme Court has refused to hear former Qwest CEO Joseph Nacchio's appeal of his insider trading conviction.

  • SEC's Rating Agency Reform May Aid Insider Trading Friday, 25 Sep 2009 | 10:43 AM ET

    The Securities and Exchange Commission spends a lot of time and money trying to discover insider trading in stocks. But when it comes to structured financial products — the funny securities that were at the heart of the financial crisis — it has just adopted a proposal that will facilitate such trading, says the NYT's Floyd Norris.

  • SEC Set to Target Credit Rating Agencies, Flash Trades Thursday, 17 Sep 2009 | 12:00 PM ET

    The SEC will discuss rules to improve oversight of the credit rating industry as well as a proposed ban  on flash trades—or buy and sell orders that exchanges send to a specific group of participants before revealing them publicly.

  • David Einhorn

    A recent court ruling that forced two ratings companies to defend fraud claims is a "game-changer" for the industry, said David Einhorn, head of Greenlight Capital.

  • Tax Havens Face Global Crackdown: OECD Chief Wednesday, 2 Sep 2009 | 4:50 PM ET

    A global crackdown on bank secrecy and offshore tax havens is gaining steam due to  the worldwide financial crisis, the head of the OECD told CNBC.

  • No New Judge in Stanford Case Wednesday, 19 Aug 2009 | 1:25 AM ET

    Late Tuesday, a federal appeals court, without explanation, denied Allen Stanford's petition to remove U.S. District Judge David Hittner from his criminal case.

  • The industry self-regulatory organization that was supposed to police the brokers at the Stanford Financial Group acknowledges it received a tip from an employee in 2003 that the company was running a Ponzi scheme, but did not follow up on it because of the agency's own policy.

  • Stanford Investigators Turn Sights Toward Banks Monday, 17 Aug 2009 | 7:48 PM ET

    Several banks, including two in the U.S., face new scrutiny as investors and regulators try to sort out the alleged Stanford Ponzi scheme, CNBC has learned. At issue: what the banks and regulators knew about massive deposits and withdrawals from Stanford over the years.

  • SEC's Schapiro: Ban on Flash Trading Will Take Time Wednesday, 5 Aug 2009 | 4:48 PM ET

    A regulatory ban on so-called flash trading, which gives some big brokerage firms a split-second advantage in buying and selling stocks, will take time to implement, Securities and Exchange Commission Chairman Mary Schapiro told CNBC.

  • Court Orders Shorter Sentence for Former Qwest CEO Friday, 31 Jul 2009 | 7:33 PM ET

    An appeals court has ordered a new, shorter sentence for ex-Qwest CEO Joe Nacchio, saying his 6-year term for insider trading was too long.

  • Sotomayor On the High Court: What Business Can Expect Wednesday, 15 Jul 2009 | 12:16 PM ET
    Sonia Sotomayor, as nominee for US Supreme Court Justice.

    Though Sonia Sotomayor is widely expected to win confirmation to the US Supreme Court, the business community is still wondering just what kind of justice she'll be

  • Summers: No Winners Or Losers In Financial Reforms Wednesday, 17 Jun 2009 | 3:13 PM ET
    Treasury Secretary Nominee Lawrence Summers

    National Economic Counsel Advisor Larry Summers told CNBC Tuesday that President Obama's call for new regulations in the financial industry has no winners or losers and is more like a re-organization than creating new agencies