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FBI examining possible Heinz insider trades

The FBI is examining possible insider trading in Heinz shares ahead of last week’s buyout announcement, after US regulators identified suspicious trades from a Swiss account, a spokeswoman said Tuesday. “We’re aware of the trading anomalies the day before the announcement,” said Federal Bureau of Investigation spokeswoman Kelly Langmesser. “And…

Congress gets new insider-trading rules after Obama signs bill

US President Barack Obama on Wednesday signed a new law reforming rules on insider trading for members of Congress, saying it would help deal with a deficit of trust afflicting Washington. Obama signed the bipartisan STOCK Act into law, and for once was surrounded by members of both the Republican…

U.S. judge OKs wiretap evidence in former Goldman Sachs director trial

NEW YORK — A US judge said he will allow prosecutors to play recordings of wiretapped phone conversations in the insider trading trial of former Goldman Sachs director Rajat Gupta. Judge Jed Rakoff’s ruling, made public in court papers Tuesday, was a blow to Gupta, whose scheduled May 21 criminal…

Senate passes weakened version of STOCK Act

The Senate on Thursday voted 96 to 3 to pass legislation that prohibits member of Congress, their staff and all federal employees from using non-public information to trade stocks. “With passage of the STOCK Act, members of Congress and their staffs can no longer use inside government information to make…

‘Unprecedented’ insider trading probe involves 120 people: report

NEW YORK — US authorities are actively building cases against 120 people accused of insider trading in an expanding and possibly unprecedented criminal probe, the Wall Street Journal reported Tuesday. The Journal said the investigation comes after a series of successful prosecutions of insider trading, with 66 people charged since…

House passes bill against congressional insider trading

WASHINGTON (Reuters) – The House of Representatives overwhelmingly passed on Thursday a bill to curb insider trading by lawmakers and other government officials, despite objections from both Democrats and Republicans that it was weaker than a version passed by the Senate last week. The House voted 417-2 to pass the…

Senate passes STOCK Act to end congressional insider trading

In a rare showing of bipartisanship, the Senate voted 93 to 3 on Thursday to approve the Stop Trading on Congressional Knowledge (STOCK) Act, legislation that prohibits lawmakers and their staff from trading stocks based on information they learn during congressional briefings and related work. Sens. Tom Coburn (R-OK), Richard…

Senate advances STOCK Act to end congressional insider trading

The Senate voted Monday to begin debate on legislation that prohibits lawmakers and their staff from trading stocks based on information they learn during congressional briefings and related work. In a rare show of bipartisan support, the Senate advance the Stop Trading on Congressional Knowledge Act, or STOCK Act by…

Seven charged in U.S. insider trading probe

US authorities announced Wednesday the break-up of an alleged $78 million hedge fund insider trading scheme and said they’d charged seven people across the country. Speaking in Manhattan, the chief federal New York prosecutor, US Attorney Preet Bharara, called the ring “a club where everyone scratched everyone else’s back.” Four people were arrested and charged and…

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