BROWSE BY TOPIC
Stories of Interest
- White House Now Doesn’t Dispute Details of Trump's Call with Army Widow
- Goldman Sachs’ Lloyd Blankfein Just Threw Some Serious Brexit Shade
- Guggenheim Partners ‘Bank Wrecker’ Could Get $100Mn Exit Package
- Proposed Arbitration Rule Change: For Customers Dealing with an Inactive Firm or Associated Person
- This Family Bet It All on Bitcoin
- Clearinghouses Pass CFTC Liquidity Stress Tests
- President Trump Admits He’s Trying to Kill Obamacare. That’s Illegal.
- Trump Plunges Down List of ‘America’s Richest’
- Is Trump’s “Foreclosure King” in Over His Head?
- FBI Arrests NCAA Basketball Coaches and Adidas Rep in Bribery Probe Involving Recruitment
- Equifax CEO Steps Down Amid Hacking Scandal
- Litigation Costs to Rub Salt in RBS Investor Wounds
- RIAs Poised to Land Wirehouse Recruits - Dan Jamieson
- Citibank and U.K. Affiliate to Pay $550K Penalty for Swap Data Reporting Violations - CFTC
- AIG to Restructure into 3 New Units, Marking CEO's First Big Move
- Accounting Firm Deloitte Says It Suffered Cyberattack (subsc reqd)
- Upcoming FINRA Board Meeting and FINRA360 Update
- Elizabeth Warren Lifts Hold on Trump DOJ Antitrust Nominee
- Bigger Mergers Narrow Indy Reps' Options, Alter IBD Channel - Dan Jamieson
- Dentons to Merge with U.K.'s Murray & Spens
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
NEWSLETTERS & ALERTS
An International Comparison of Insider Trading Enforcement
[Photo: From Bloomberg.com, 'How the Feds Pulled Off the Biggest Insider-Trading Investigation in U.S. History' - 6/1/16]
Lev Bromberg, George Gilligan, and Ian Ramsay recently published an article, ‘The Extent and Intensity of Insider Trading Enforcement – an International Comparison’, which now appears on the web site of NYU Law’s Program on Corporate Compliance and Enforcement.
The article presents the results of a detailed comparative empirical study of sanctions imposed for insider trading in Australia, Canada, Hong Kong, Singapore, the U.K., and the U.S. over a 7-year period to 2015.
Among the findings:
- the most severe sanctions imposed for insider trading were in Australia, followed by Hong Kong, while the least severe sanctions were imposed in Singapore.
- the frequency of sanctions in the U.S. was substantially higher than in the other jurisdictions, yet, the severity of typical sanctions in the U.S. was relatively low.
- the U.S., which had the highest number of defendants, also had the widest range of sanctions imposed for insider trading.
- most U.S. insider trading cases usually feature a high proportion of monetary sanctions; this can often be attributed to the SEC’s practice of issuing a penalty that approximates the amount of illicit profit – i.e., disgorgement.
- Insider cases in the U.S. are much more complex than elsewhere because many defendants faced both criminal and civil actions - brought by the Justice Department and the SEC, respectively – for the same ‘offense’.