Hedge Fund Blogs From HedgeCo.Net


SEC Charges Golf Buddies in Insider Trading Ring

CW Logo Small

July 15, 2014

Dear Friends,

The SEC charged a group of golfers with trading on material non-public information (MNPI), resulting in over $500,000 in illegal profits. The golfers must return their ill-gotten gains, with interest, and pay penalties of up to three times their gains.

The MNPI source belonged to the same country club as the ringleader, who fed the information to his golf buddies. “Whether tips are passed on the golf course, in a bar or elsewhere, the SEC will continue to track down those who seek an unfair advantage trading stocks,” said Paul Levenson, director of the SEC’s Boston Regional Office.

Please click here for a link to the SEC’s complaint. Please feel free to contact us with any questions at (212) 867-0200 or email us at info@counselworksllc.com.

Thank you,

CounselWorks

About CounselWorks LLC

CounselWorks is a strategic business and regulatory consulting firm, that provides project-based consulting and manages compliance and regulatory programs for hedge funds, private equity firms, investment companies, broker-dealers and investment banks.
This entry was posted in Hedge Fund Commentary, Hedge Fund Fraud, hedge fund news, hedge fund regulation and tagged , , , . Bookmark the permalink.

Comments are closed.