Views on improving the integrity of global capital markets

Insider Trading

“Political Intelligence” Trading — Where Do We Draw the Line?

As investors seek “political intelligence” for a leg up, there’s a fine line between acceptable versus insider information.

Fearless Fiduciary: SAC Scandal and Bad Financial Actors: Like “The Hangover Part III,” Let’s Hope This Is the End

Does the SAC scandal represent a Wall Street tipping point in which there are serious business consequences to bad behavior and investors are no longer willing to let things slide?

Hong Kong Tiger Asia Case: Are Insider Traders Losing Their Stripes?

I was at the Court of Final Appeal in Hong Kong on 30 April to witness the SFC win over Tiger Asia Management LLC in a landmark ruling. In dismissing Tiger Asia’s appeal, the court upheld the SFC’s right to seek remedial orders and injunctions in relation to the insider dealing case.

Insider Trading: Does It Make You an Outsider?

Given our intense interest in high professional standards of conduct in the investment profession, we still find it disappointing when we come across the never-ending stream of news about market participants who do not behave according to the rules.

“Front-Running” in India Challenges Regulators

In an interesting turn of events, the Securities and Exchange Board of India (SEBI) has announced that it needs to review its regulations that deal with front-running.

The Scourge of Insider Trading: Enforcement Not Enough — We Need an Improved Ethical Culture

The taint of insider trading threatens to derail investor trust in hedge funds and other alternative strategies. Is it time for a new level of self-examination by hedge fund bosses around compensation systems, ethical codes, and the culture of the firm itself?

CFA Institute: Market Fraud, Mis-selling Concerns Cloud Asia-Pacific Outlook

Following the big interest in last year’s CFA Institute Global Financial Market Sentiment Survey (GMSS), the results of the 2013 survey — shaped by input from the nearly 6,800 CFA charterholders worldwide — are sure to raise some eyebrows.

The Fearless Fiduciary: A Sad Narrative — Rampant Mis-Selling of Financial Products

One of the perpetual ethics issues facing the finance industry is the general theme of mis-selling of financial products. CFA Institute has been tracking the issue in annual polls and commenting on possible fixes for years. The sad truth is many financial professionals may not even know they are doing it. This is your year-end reminder to tune up your act.

Insider Trading: A Global Issue for Capital Markets

Type “insider trading” into your favorite internet search engine and a virtually endless list of articles will appear. Stories cover countries and markets of all sizes. The trading on material nonpublic information is a longer-term phenomenon, to which regulators are steadily increasing their enforcement activities.

Nature versus Nurture: the Culture of Insider Trading

The Financial Times’ John Gapper raises the very interesting question of whether otherwise good people can justify unethical activity when “norms and expectations of the corporate elite are corrupt.” Bob Dannhauser, CFA, examines the culture of insider trading.

What’s in a Name? Conduct Some Call Insider Trading by Any Other Name Stinks as Much

Lehman's selective disclosure may not be insider trading, but it's just as egregious.

House of Representatives: Pass the Congressional Insider Trading Bill

We need to send a blunt message to members of Congress to eliminate the unfair advantage they have over the average investor. Pass the STOCK Act.

Three Wise Monkeys: Lessons for the Investment Industry

Rummaging through my desk the other day, I found a set of little carved monkeys I’d picked up at a Hong Kong flea market years ago. They were the “see no evil, speak no evil, hear no evil” trio… READ MORE ›

Insider Trading: Big Time for “Victimless Crime”

The prison sentences handed down to Galleon founder Raj Rajaratnam — which, at 11 years, is the longest-ever sentence in an insider-trading case — and Incremental Capital and Galleon trader Zvi Gofer (10 years), should send a… READ MORE ›

It Remains Insider Trading

The jury deliberating the case of Winifred Jiau took little time in convicting the former employee of Primary Global Research, an expert network firm, with providing inside information to investors. This is another victory for the… READ MORE ›

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