Tipping the Scales; Insider Trading  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 400 no. 8755 (Oct. 2011), page 69-70.
Topik: Insider Trading; Investment Advisors; Convictions; Fines & Penalties; Manycountries

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.68 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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America's Securities and Exchange Commission (SEC) prosecuted insider trading for the first time in 1961, after a company employee tipped his broker that the firm would be cutting its dividend. Before the news became public the broker sold the stock for his wife and clients. His punishment was a $3,000 fine and suspension for 20 days from the New York Stock Exchange. According to industry lore, the case was good for business. Clients after a broker with an edge lined up to hire him. The costs now are rather higher. In May a jury found Raj Rajaratnam, the former boss of Galleon, a now-defunct hedge fund, guilty of 14 counts of insider trading and conspiracy. As Mr Rajaratnam awaited sentencing, prosecutors were hoping to see him spend more than 20 years in prison. Many countries do not pursue insider-trading convictions, or if they do, only impose financial penalties.

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