We are shocked - Casablanca-shocked. According to Marketwatch: Faced with a rash of insider trading in the markets, federal
prosecutors and securities regulators in recent years have stepped up efforts
to crack down on violations. But insider
trading and market fraud persist, perhaps at epidemic levels. Even though the
Securities and Exchange Commission has brought more insider-trading actions in
the past three years than in any three-year period in the agency’s history, and
even though the U.S. attorney in New York City has convicted 73 people in
insider-trading cases since 2009, the crime remains all too common.
.
That’s what MarketWatch found in a series of interviews with
people convicted of insider trading and fraud. These felons painted a picture
of an unfair market driven by widespread cheating that favors those with
privileged information and expensive technology. The cheating also hurts
individual investors and retirement savers trying to follow the rules of the
road and produces a deeply unfair market environment.
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