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The SEC’s complaint, filed in federal court in New York, alleges that since at least November 2020, David Lee Stone has used deceptive means to obtain pre-release access to stock picks by at least two subscription stock picking services offered by The Motley Fool. According to the complaint, beginning in January 2021, Stone began sharing […]
Earlier this month, the U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing on the Insider Trading Prohibition Act (ITPA), which passed the house with bipartisan support in May of last year. Some prominent scholars, like Professor Stephen Bainbridge, have criticized the ITPA as ambiguous in its text and overbroad in its […]
Between November 2019 and July 2020, and again between April 2021 and September 2021, Goldman Sachs, the investment bank, engaged McKinsey, the management consulting firm, to provide services related to the potential acquisition of GreenSky by Goldman Sachs and the post-acquisition integration of GreenSky. DIKSHIT was one of the McKinsey partners leading these engagements. In […]
Congress should do the same. During my time at Goldman Sachs, essentially all employees were banned or heavily discouraged from trading single-name stocks in personal accounts. Over the past decade, this has slowly become the norm at Wall Street banks. This wouldn’t be so bad for public officials either. Exchange-traded and index funds offer some […]
House Speaker Nancy Pelosi and Democratic leaders have greenlighted a plan to craft legislation that would ban members of Congress from trading stock, CNBC confirmed on Wednesday. At Pelosi’s direction, the House Administration Committee is working on drafting the rules, and the legislation is expected to be put up for a vote this year, likely […]
CoinDesk has fixed an exploit that allowed anyone to view unpublished headlines, create drafts, and edit articles on the website. In a post on its site, CoinDesk says the vulnerability could’ve let “unidentified actors” view non-public information, allowing them to make trading decisions they could profit from. “The issue is now fixed and added safeguards […]
If your brother-in-law is a senior accounting executive at a public company, and that public company is secretly in negotiations to be acquired at a premium, and your brother-in-law is working on the deal, and you talk to him regularly while the deal is being negotiated, “including by phone, at [your] daughters’ basketball events, and at multiple […]
Raj Rajaratnam, founder of Galleon Group, sits down with CNBC in his first interview since being released from prison two years ago to discuss his new book ‘Uneven Justice: The Plot to Sink Galleon’.
Sen. Elizabeth Warren on Monday urged the Securities and Exchange Commission to investigate whether three Federal Reserve leaders violated insider trading rules in 2020, when they bought and sold assets as the central bank ramped up efforts to save the U.S. economy from economic turmoil. Warren, who sits on the congressional committee that oversees the […]
No one is claiming to know if Filler or any of the other TipRanks stars are taking advantage of nonpublic information. Poker legend Doyle “Texas Dolly” Brunson made five final tables in his career, after all, and it’s possible to get lucky enough to flip a coin and hit heads a bunch of times in […]