CFTC: Billy Ray and Winthrop Were Not Insider Traders

Earlier this week, Commodity Futures Trading Commission Chairman Gary Gensler clarified that no matter what you might have assumed back in 1983, Billy Ray Valentine (Eddie Murphy) and Louis Winthorpe III (Dan Aykroyd) did not commit insider trading when they made millions trading on orange juice futures in the movie Trading Places.

Full details are available in this post on my Enforcement Action blog over at Compliance Week.