Earlier this week on his Cady Bar the Door blog, David Smyth wrote about one of the things that caught his attention at the recent SEC Speaks conference. The SEC’s Rob Cohen, co-chief of the Market Abuse Unit, stated at the conference that the Market Abuse Unit has now filed five insider trading cases generated from the Enforcement Division’s “Analysis and Detection Center” over the last year. Smyth wrote:
This is noteworthy. Here is one of the cases, and here is another one. Lexis doesn’t tell me about the other two. But what I want to know is, what data do they have? Where are they getting it? How are they using it? Would they have been able to do these cases without the Center? Is the Center a place or just software? I want it to be a room with a thermometer-like meter in the corner that lights up in a different color at the top, for the craziest insider trading schemes or the most money at stake. I also want a snoozing SEC staff attorney to be startled awake while spilling coffee when the “thermometer” hits Defcon 1….
