Monthly Archives: May 2017

The Potential Declawing of the SEC: The Financial CHOICE Act | Securities Litigation, Investigations and Enforcement

The Financial CHOICE Act (or “CHOICE Act 2.0”), which would significantly narrow the SEC’s ability to bring enforcement actions and make it more challenging for it to prevail in such actions, is inching its way towards becoming law. On May 4, 2017, the Financial Services Committee passed the Act and it is now slated to be introduced to the House…

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Five charged with insider trading involving U.S. health agency | Reuters

Five men, including a Washington political consultant and a federal employee, were criminally charged on Wednesday with engaging in an insider trading scheme based on leaks from within a federal healthcare agency. Federal prosecutors in Manhattan announced the arrests of political consultant David Blaszczak, founder of Precipio Health Strategies; U.S. Centers for Medicare and Medicaid Services (CMS) employee Christopher Worrall;…

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SEC Files Charges in Trading Scheme Involving Confidential Government Information — SEC Press Release

The Securities and Exchange Commission today announced charges in an alleged insider trading scheme involving tips of nonpublic information about government plans to cut Medicare reimbursement rates, which affected the stock prices of certain publicly traded medical providers or suppliers. via SEC Files Charges in Trading Scheme Involving Confidential Government Information — SEC Press Release

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Ukrainian hacker gets prison in U.S. insider trading case | Reuters

A Ukrainian computer hacker was sentenced on Monday to 2-1/2 years in prison over his role in a global scheme to conduct insider trading based on stolen, yet-to-be-published corporate news releases, U.S. prosecutors said. Vadym Iermolovych, 29, of Kiev, had been the first hacker to admit criminal wrongdoing, in what authorities have called the largest known hacking scheme to game…

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