Close

Are you in compliance?

Don't miss out! Sign up today for our weekly newsletters and stay abreast of important GRC-related information and news.

Get updates on Compliance Week offerings, including new features, databases, research, and other resources, along with announcements of upcoming Webcasts, conferences, seminars, CPE/CLE opportunities and more.

Published every Thursday, Compliance Week Europe offers a condensed summary of risk, audit, and compliance news either originating in Europe, or of special interest to European compliance professionals. This newsletter will follow developments by the European Commission, as well as those of national governments across the region, or any U.S.-based news that might have consequence across the Atlantic. Frequency: weekly; Thursday a.m.

A fresh edition of Compliance Week delivered via e-mail and online every Tuesday morning, relentlessly focused on the disclosure, reporting and compliance requirements of our 25,000+ paying subscribers.

Published every Friday, Compliance Weekend was launched at the behest of subscribers, and offers a quick Plain English review of the week's key developments. We hope you enjoy this supplement to Compliance Week's Tuesday edition.

What the Heck is Shia LaBeouf Talking About?

Bruce Carton | February 22, 2010

I'm not saying Shia LaBeouf is making this up, but can someone please shed some light on what he was talking about on the Jimmy Kimmel Show last week? The actor said that in preparation for his role in Wall Street: Money Never Sleeps, he trained at a Charles Schwab brokerage in Encino, California. After first mentioning that he'd managed to turn $20,000 into $489,000 through his trading, LaBeouf observed that success in the market was all about whoever gets the information first.

To illustrate this point, LaBeouf said that "four of the nine guys that he was training with were arrested and are in jail now for insider trading." I'm pretty sure he was referring to the brokers he was training under at Charles Schwab (who he also said had set him up with a computer and $1 million to trade with), and not fellow trainees, but that was not entirely clear.

He then added that the four people who went to jail were sharing inside information on Twitter, tweeting messages to each other. How did they expect to get away with something like this, Kimmel asked? "Because these regulators are old!" LaBeouf responded.

Can somebody please enlighten me in the comments about this supposed Charles Schwab Twitter-insider trading ring? Is this real? Check out the video below. The insider trading discussion starts at around the 2:40 mark.