Yes, public pressure and scrutiny on the SEC is quite high right now, but consider what is going on in Sweden. There, the largest insider trading case in the country’s history is being prosecuted in an environment that is so politically-charged that many consider this to be a “win-or-die” situation for the Swedish National Economic Crimes Bureau handling the case.
The Stockholm News reports that the case is against a group of financial analysts, investment bankers and stockbrokers and their friends. The criminal charges reportedly relate to insider trading in a number of companies, including biotech company Biacore, retailer Lindex and telecom provider TeliaSonera. SEK 3.5 million in cash was already confiscated in connection with the case in April 2007. The suspects in the case claim they are innocent, and a trial is scheduled for January 2010.
