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American and British authorities are considering the prosecution of traders implicated in the scandal, and European officials want to write new legislation to make the manipulation of Libor and other benchmark rates a criminal offense.
But for at least a generation, the courts have also allowed the prosecution of traders who "misappropriate" inside information, such as by deciphering it (as with a financial printer who learns of an impending merger), or by buying it (as with Ivan Boesky Ivan Boesky ), or by using it in inappropriate ways (as with a lawyer who trades based on information from a client).
Similar(58)
Seen in that light, a subsidiary's plea on a single criminal charge appears to shield the parent company and the prosecution of two traders appears to shield their managers.
So, following its successful prosecution of former UBS trader Tom Hayes in August, the SFO is back for a sequel.
The case sounds similar to the prosecution of Mathew Martoma, a former trader at Steven A. Cohen's hedge fund firm, whose well-timed recommendation to sell a pharmaceutical stock after receiving advanced notice about problems in a drug trial helped SAC Capital Advisors avoid more than $260 million in losses.
After years of criticism and public outrage over the lack of criminal prosecutions of Wall Street traders and executives whose risky trading helped cause the financial crisis, the Justice Department and the Securities and Exchange Commission seem to be finally taking action.
So, apparently, were a lot of traders.
They're all a bunch of traders.
The firm employed hundreds of traders.
"Female traders make up 11 per cent of the total number of Traders Own trading accounts.
"And an increasing number of traders.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com