SAC Capital Agrees to Settle Insider Trading Cases for $614 Million
Andrew Harrer/Bloomberg via Getty Images(NEW YORK) — The Securities and Exchange Commission (SEC) has settled insider trading charges against two affiliates of the giant hedge fund SAC Capital for $614 million.According to the New York Times, the SEC …
Bristol-Myers Squibb Exec. Busted on Insider Trading
Photodisc/Digital Vision/Thinkstock(NEWARK, N.J.) — An executive at the pharmaceuticals giant Bristol-Myers Squibb Co. was arrested Thursday for insider trading.It was part of Robert Ramnarine’s job to evaluate potential acquisitions for Bristol …
Facebook Sued, Subpoenaed About IPO
Zef Nikolla/Facebook(WASHINGTON) — Facebook and its IPO underwriters are being sued and face pointed questions from lawmakers about whether they misled some investors before the largest initial public offering by a tech company in U.S. history. Facebo…
Spencer Bachus Cleared of Insider Trading Allegations
U.S. House of Representatives(WASHINGTON) — Rep. Spencer Bachus, the chairman of the powerful House Financial Services Committee, has been cleared in an investigation by the Office of Congressional Ethics (OCE), which conducts preliminary investigatio…
Obama Signs STOCK Act To Ban Insider Trading By Congress
iStockphoto/Thinsktock(WASHINGTON) — Surrounded by a group of bipartisan lawmakers, President Obama on Wednesday signed the Stop Trading on Congressional Knowledge Act, banning insider trading on Capitol Hill.“The idea that everybody plays by th…
Senate Passes Congress Insider Trading Ban
Architect of the Capitol(WASHINGTON) — The STOCK Act, a House-passed legislation to ban members of Congress from benefiting from insider stock trading, was approved by the Senate Thursday 96-3 and will go to President Obama for his signature.The bill …
Senate Passes Insider Trading Ban; STOCK Act Goes to Obama
iStockphoto/Thinkstock(WASHINGTON) — The STOCK act, House-passed legislation to ban members of Congress from benefiting from insider stock trading, has now also passed in the Senate by a vote of 96-3.The bill now goes to President Obama for his signat…
Congress Revives STOCK Act; Obama Likely to Receive Bill Thursday
Architect of the Capitol(WASHINGTON) — The STOCK act, legislation to ban members of Congress from benefiting from insider stock trading, will move forward in Congress after all.The Stop Trading on Congressional Knowledge Act had been stalled in Congre…
Head of House Financial Services Under Investigation for Insider Trading
Bachus [dot] House [dot] gov(WASHINGTON) — Just hours after the House passed a bill to stop lawmakers from profiting from inside knowledge that can make them rich through stock buys, The Washington Post reports Friday that Republican Spencer Bachus of…