Enforcement Action

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“Enforcement Action” is written by Bruce Carton, a former senior counsel in the SEC's Division of Enforcement. A “blawg pioneer” (according to The Wall Street Journal), Carton was the creator of Securities Litigation Watch, a blog that he wrote for more than three years while he was vice president of ISS' Securities Class Action Services. He is now editor of Securities Docket, an online publication that tracks securities litigation and enforcement developments on a global basis. Carton welcomes questions, comments and statements from readers on enforcement and litigation issues; he can be reached via email at BCarton@complianceweek.com.

 

November 20, 2009

Be Careful Telling Therapist About Insider Trading

the_doctor_is_in230Don’t you hate it when your boss at the hedge fund you work for pressures you for inside information about the public company you used to work for?

And you provide your boss with the inside information for a while, but when you stop providing it he fires you??

And you confide to your psychologist about the pressure you were under, the reason for the firing, etc., but when you later get divorced, your psychologist is deposed and testifies about the insider trading and tipping you told her about???

And then the U.S. Senate takes an extreme interest in potential insider trading by the hedge fund you worked for and, as part of nine federal investigations into the matter, obtains the psychologist’s deposition testimony and makes sure it goes to federal prosecutors and the SEC????

I hate when that happens!

Posted by: bcarton @ 11:08 am

Filed under: Industry, Uncategorized
1 Comment

1 Comment »

  1. If I were this guy, I’d just cash in my chips. Too many dramas.

    Comment by Francine McKenna — November 20, 2009 @ 11:33 am

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