Insider trading
Economic Issue
Canada struggles to tackle insider trading problemCanada struggles to tackle insider trading problem Pav Jordan and Jennifer Kwan, Reuters Published: Monday, November 09, 2009 Pav Jordan/Reuters RCMP Superintendant Kevin Harrison is in charge of the Toronto Integrated Market Enforcement... In this article: Insider trading, Canada, Ciena Corp, United States, Investment Industry Regulatory Organization of Canada, and Parole |
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Reuters | November 05, 2009
Insider trading probe ensnares 14 more
Insider trading probe ensnares 14 more Reuters top ten news stories delivered to your inbox each day. Insider trading probe ensnares 14 more NEW YORK (Reuters) - Fourteen people were charged with fraud and conspiracy in a dramatic...
In this article: Galleon Group, Thomson Reuters, Ivan Boesky, Moody's, Wall Street, NEW YORK, and Defendant
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Yahoo! News | November 05, 2009
Insider trading probe ensnares 14 more (Reuters)
Insider trading probe ensnares 14 more (Reuters) Insider trading probe ensnares 14 more AP - FILE - In this Oct. 16, 2009 file photo, Raj Rajaratnam, billionaire founder of the Galleon Group, a … By Matthew Goldstein and Jonathan Stempel...
In this article: Galleon Group, Moody's Corp, and NEW YORK
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Canadian pleads guilty to insider trading
...trading NEW YORK (Reuters) - A Canadian man on Tuesday pleaded guilty to U.S. and Canadian criminal charges stemming from a 14-year insider trading scheme, a day after his alleged accomplice apparently committed suicide. Stanko...
In this article: The Globe & Mail, Naomi Reice Buchwald, Toronto, U.S., NEW YORK, Suicide, and Ontario Securities Commission
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National Post | October 28, 2009
Toronto man pleads guilty on insider trading
Toronto man pleads guilty on insider trading Grant McCool and Jonathan Stempel, Reuters Published: Tuesday, October 27, 2009 Reuters/Peter Jones Earlier Tuesday, Mr. Grmovsek appeared in a Toronto court to plead guilty to Canadian criminal...
In this article: Toronto, Ontario Securities Commission, Naomi Reice Buchwald, NEW YORK, and U.S.
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Justice Dept vows focus on white collar crime
...insider trading scandal. Federal authorities tapped phones to help unearth an insider trading ring that includes the Galleon Group hedge fund, other fund managers, Silicon Valley executives, traders and lawyers. Prosecutors have alleged...
In this article: Justice Department, Securities and Exchange Commission, NEW YORK, All rights reserved, Galleon Group, Thomson Reuters, and Commodity Futures Trading Commission
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U.S. charges billionaire Rajaratnam with record insider trading
U.S. charges billionaire Rajaratnam with record insider trading Reuters top ten news stories delivered to your inbox each day. U.S. charges billionaire Rajaratnam with insider trading NEW YORK (Reuters) - Billionaire hedge fund founder...
In this article: U.S., IBM, Galleon, Manhattan, McKinsey & Co, and Thomson Reuters
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Description from Wikipedia:
Insider trading is the trading of a corporation's stock or other securities (e.g. bonds or stock options) by individuals with potential access to non-public information about the company. In most countries, trading by corporate insiders such as officers, key employees, directors, and large shareholders may be legal, if this trading is done in a way that does not take advantage of non-public information. However, the term is frequently used to refer to a practice in which an insider or a related party trades based on material non-public information obtained during the performance of the insider's duties at the corporation, or otherwise in breach of a fiduciary duty or other relationship of trust and confidence or where the non-public information was misappropriated from the company.
In the United States and several other jurisdictions, trading conducted by corporate officers, key employees, directors, or significant shareholders (in the U.S., defined as beneficial owners of ten percent or more of the firm's equity securities) must be reported to the regulator or publicly disclosed, usually within a few business days of the trade. Many investors follow the summaries of these insider trades in the hope that mimicking these trades will be profitable. While "legal" insider trading cannot be based on material non-public information, some investors believe corporate insiders nonetheless may have better insights into the health of a corporation (broadly speaking) and that their trades otherwise convey important information (e.g., about the pending retirement of an important officer selling shares, greater commitment to the corporation by officers purchasing shares, etc.)
Illegal insider trading is believed to raise the cost of capital for securities issuers, thus decreasing overall economic growth.
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