By Norm Pattis New Haven Register I have no idea whether Phil Mickelson, one of the world’s premier golfers and three-time winner of the Masters golf tournament, is guilty of insider trading. But the mere fact that we are talking about it tarnishes his reputation. And why are we talking about it? The FBI has…
By Allan Lengel ticklethewire.com With little fanfare, the Senate on Monday confirmed former federal prosecutor Mary Jo White as head of the U.S. Securities and Exchange Commission. CNN Money reported that White, 65, was confirmed without a roll call vote. She is currently head of litigation at the law firm of Debevoise & Plimpton in…
Steve Neavling ticklethewire.com The FBI is investigating a series of suspiciously well-timed trades just before the $23 billion acquisition of H.J. Heinz Co., the New York Times reports. The probe comes as the Security and Exchange Commission froze a Swiss account tied to possible insider trading. The New York Times wrote that the well-timed options…
Steve Neavling ticklethewire.com Federal authorities closed two investigations into mortgage deals at Goldman Sachs, the Justice Department announced in a rare statement late Thursday, Reuters reports. Although federal prosecutors are typically loathe to publicize the closing of a case, they issued a statement announcing that no illegal activity was found. “The department and investigative agencies…
Shoshanna Utchenik ticklethewire.com Collaboration between the SEC, FBI, and Florida U.S. Attorney’s office has resulted in charges against several penny-stock companies, their officers, and three promotors for bribes and kickbacks. The Wall Street Journal reports that shady players charged by the SEC Monday include one caught paying kickbacks to an FBI agent posing as a…
Shoshanna Utchenik ticklethewire.com The FBI is starting a preliminary investigation into JPMorgan Chase’s $2 billion- that’s “billion” with a “B”- trading loss, reports the New York Times. The losses loomed large at Tuesday’s annual shareholder meeting in Tampa. The FBI inquiry comes right on the tail of another one from the Securities and Exchange Commission….
By Allan Lengel ticklethewire.com The Madoff scandal is the gift that keeps giving. The latest: David Hilzenrath of the Washington Post reports that the Securities and Exchange Commission has disciplined 8 of its employees as part of the agency’s failure to stop the fraud. But Hilzenrath writes that no one was fired even though SEC’s…
By Allan Lengel ticklethewire.com WASHINGTON — The Inspector General for the Securities and Exchange Commission discovered a big no no: A lawyer for the SEC allegedly disclosed the name of a confidential source in an FBI probe to a witness in the case, the Washington Post reported. The Post’s David Hilzenrath reports that a SEC…
