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Browse: Home / 2009 / October / 29 / Belgium: CBFA Expands Insider Trading Inquiry in Fortis

Belgium: CBFA Expands Insider Trading Inquiry in Fortis

By Securities Docket on October 29, 2009, 11:55 am

fortis-logo230In Belgium, the Banking Finance and Insurance Commission (CBFA) is now asking 640 insiders to disclose what they knew about the Fortis break-up before it was announced, and whether they acted on the information. Reuters reports that the Belgian regulator is focusing on the week of trading between Sept. 29 and Oct. 3, 2008, “after Fortis had received an 11.2 billion euro ($16.5 billion) capital injection and before it was carved up by the Netherlands and Belgium.”

The 640 insiders are people that they may have had access to information about the break-up before it was announced.  However, the regulator emphasized, the request for information does not mean that they are being accused of insider trading.

Read the Reuters article

Posted in Global | Tagged Insider Trading

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