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The following article was published in our article directory on November 29, 2010.
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Article Category: Business
Author Name: Amanda xzh
FBI raids shocked Wall Street
The FBI on Monday raided the three hedge funds, which are based in Connecticut to global investors the company plane, Arizona Capital Management Inc. and is headquartered in Boston Bay Capital Management. Once this came out shocked the whole Wall Street, financial stocks ended the day U.S. stocks tumbled across the board, Goldman Sachs and Bank of America shares were down more than 3%, Morgan Stanley fell 2.2%, down 2.28% JP Morgan Chase, Wells Fargo fell 2%.
SEC Enforcement Deputy Minister Freed Amare open to the public that there is a lot of the current U.S. financial market, insider trading, and even far more than expected. U.S. SEC insider trading investigation has been concerned about the focus from one case to continuous violations and collusion between offenders group.
The investigation of insider trading on Wall Street in Manhattan by the U.S. Attorney's Office, FBI and the SEC co-leader, has taken three years and coming to an end, U.S. regulators are preparing to launch a number of insider trading allegations, some of the industry advisory body, the investment bankers, hedge funds and mutual funds, and analysts have become targets for attack.
Accused the FSA issued a stern
While the U.S. market is still insider trading crackdown operations shock, the British Financial Services Authority on Thursday also issued a stern allegations in a statement that a total of 5 people involved in the 17 insider trading, including two franchised broker BlueIndex former executives and a former senior trader.
According to the FSA said that the age of five defendants in the 27 to 34 years old, who was arrested in May this year, was also deprived of the HKMA continued to trade broker BlueIndex power. Co-owner and broker BlueIndex Sanders and his wife, the former executives shared the charges against Miranda, they announced the deal in the seven were before the violation of insider trading, Wall Street, this year's Thanksgiving and unusual. Three working days before the holidays, the four large hedge funds were raided, at least three investigations begin, commercial intelligence network employees were arrested.
Materials provided by the FSA show that brokerage BlueIndex Hussein, a former senior trader was accused of encouraging customers will soon be published in two companies before the merger news, stock trading and the two companies related to contracts for differences. In addition, Hussein also affected by an acquisition announcement is made in the insider trading allegations alone. The broker BlueIndex Barker, another former employee also accused of illegal trading, its connection to an acquisition announcement in an insider trading before.
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