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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInSEC Charges TMC Bonds With Failing to Protect Confidential Subscriber Information
The SEC’s order finds that, between at least January 2016 and June 2018, TMC Bonds publicly touted its anonymous trading platform, but, in fact, disclosed the identities of certain firms seeking to trade corporate bonds to potential counterparties over 2,500 times during a two-and-a-half year period. According to the order, these disclosures occurred because TMC […]
The Gray Line of ‘Confidential’ Information – DealBook
The insider trading case against SAC Capital Advisors seems to be all about the trading “edge,” a term the firm’s owner, Steven A. Cohen, once said he hated. Under the securities laws, proving a violation requires showing that the information used was nonpublic, which means it was not already available in the stock market — […]