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Crime Insider Trading

  • The U.S. Securities and Exchange Commission on Thursday charged a Wall Street investment banker with leaking confidential information about pending merger agreements, including a deal involving Texas utility giant TXU Corp.

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    SEC Commissioner Paul Atkins told CNBC's Melissa Lee that the federal regulatory agency should focus on mutual funds and insider trading--not hedge funds.In a taped interview aired on "Squawk Box," Atkins called efforts to regulate hedge funds “not the wisest effort” A Congressional hearing on the issue is scheduled to begin Tuesday in Washington.

  • Federal regulators on Friday charged that unknown individuals illegally profited from advance knowledge of the proposed $32 billion buyout of electric utility TXU using foreign brokerage firms for the transactions to conceal their identities.

  • The Securities and Exchange Commission accused 14 individuals--including employees at two big brokerage firms--of insider trading, claiming they used tip-offs of upcoming analyst upgrades or corporate acquisitions that netted at least $15 million.

  • As CNBC.com reported earlier today, the U.S. Securities and Exchange Commission is investigating whether or not some Wall Street banks are leaking privy information from one client to gain favor with another. But is this illegal? Depends upon whom you talk to.

  • A former analyst at Merrill Lynch was sentenced to 37 months in prison for his part in a sprawling scheme that involved information from investment bankers and leaked copies of a market-moving magazine.