Benedicte Gravrand, Opalesque Geneva:
The U.S. Securities and Exchange Commission (SEC) yesterday charged Tai Nguyen, the owner of the California-based equity research firm Insight Research, with insider trading.
The U.S. government started investigating "expert network" firms last year to crackdown on insider trading practices, and this is one of the results.
The most talked about past cases were that of former Galleon hedge fund founder Raj Rajaratnam, and former hedge fund manager Joseph "Chip" Skowron III, both in prison now for insider trading. Those cases involved the disclosure of non-public information by expert research networks (ERNs).
The SEC has charged 23 defendants in enforcement actions arising out of its expert networks investigation, which has uncovered widespread insider trading at several hedge funds and other investment advisory firms.
Mark "Tony" Longoria of San Antonio, Texas, was found guilty of inside trading last summer. During the same period, John Kinnucan, the expert-networking ......................
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