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Two former SAC portfolio managers have pleaded guilty to criminal charges of using inside information to trade technology stocks.
But some of the trading firms recently paid $250 million to settle charges of using inside information to benefit themselves instead of their clients.
In March, the president of the Bombay exchange, Anand Rathi, was forced to resign after being accused of using inside information to dump shares.
It has never been verified, but observers speculated that it was the work of a very powerful politician using inside information to try to damage rivals.
The offending in the present case, which saw superannuation funds competing with 20-year olds using inside information to pay for a skiing holiday, stands as the paradigm for scepticism as to the fair operation of the market".
The earthquake and tsunami in March hurt exporting manufacturers, and the subsequent nuclear shutdown caused the country to import more energy.Britain's Financial Services Authority fined David Einhorn £3.6m ($5.6m) for using inside information to avoid a trading loss at his hedge fund.
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Under agency theory, corporate insiders would have better access to information and could use inside information to extract benefits from minority shareholders (Jensen and Meckling 1979).
Mr. Boesky, a stock speculator, improperly used inside information to profit from mergers and takeovers.
The BHA has looked into several similar cases in which individuals were suspected of having used inside information to profit from injuries to high-profile horses.
EMBARRASSED by state and federal accusations that fund managers at Putnam Investments used inside information to make almost $1 million, the company has promised to return to investors any gains made improperly.
Bharara referred me to a 2007 poll in which twenty-five hundred Wall Street professionals were asked if they would use inside information to make ten million dollars if the chances of getting caught were fifty per cent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com