Tag Archives: trade

SEC Charges 32 Defendants for Trading on Hacked News Releases

Dear Friends, Yesterday, the SEC charged 32 defendants in connection with a scheme to trade on hacked news releases. According to the SEC, the defendants hacked into newswire services to obtain non-public information about corporate earnings announcements – domestic and international defendants allegedly traded on the non-public information, generating more than $100 million in illegal profits. “Our use of innovative […]

SEC Chairman Announces Far-Reaching Initiatives

   Dear Friends, SEC Chairman Mary Jo White announced several far-reaching initiatives and rule proposals that would affect virtually every aspect of the stock market. She focused on the impact of computer-driven trading and the importance of updating the SEC’s regulatory regime accordingly. Notably, Chairman White proposed a rule that could require high-frequency traders to register as broker-dealers. Additionally, she […]