In 2010, a director of Mariner Energy tipped off his son about an impending offer for the company, encouraging him to trade for himself and his sister.
Authorities said Steven Metro, 40, a managing clerk at Simpson Thacher & Bartlett, stole tips about corporate transactions involving his firm's clients, and passed them through the middleman to stockbroker Vladimir Eydelman, 42, who would trade for himself, family, the middleman and customers.
Essentially, then, Noles was traded for himself.
A dealer trades for himself or herself, acting as a principal, not an agent, and profits from a markup.
Instead of assisting International — which had retained Lazard, the bankers Black had suggested — Black began trading for himself and Inc., which had some liquidity problems.
The S.E.C. is seeking penalties of three times that amount, or $183,000, from both Mr. Garvy and the younger Mr. Saul, who was not accused of having traded for himself.
After the new policy was put in place, Mr. Svoboda stopped trading for himself but continued to tip Mr. Robles through the end of the year, according to regulators.
"Sam Waksal must have been in here 10 times before he went away," said Mr. Millington, about the founder and former chief executive of ImClone Systems, who was sentenced in June to more than seven years in prison for securities fraud, perjury and other crimes he committed while orchestrating ImClone stock trades for himself and family members at the end of 2001.
He trades for himself". My wife pondered this for a moment, and then ended the conversation with, "Oh, I see.
DealBook » Fresh Controversies at Chesapeake | Reuters reports that the board of Chesapeake Energy gave Aubrey K. McClendon, the chief executive, permission to trade commodities for himself.
But he says he doesn't trade much for himself and that when he does, it is not as a high roller.
