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…
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…
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…
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…
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…
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…
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…
NEW YORK — Insider-trading charges are being prepared against a vast network of consultants and traders across the US financial industry in a years-long probe that a report suggests will reveal a pervasive culture of backroom dealing. The investigation could be the largest insider-trading probe in US history, The Wall…