By Adrianne Appel2022-12-16T19:50:00
An equity trader unlawfully disclosed inside, nonpublic information about upcoming trades and fed it to a retired professional trader, resulting in $47 million in illegal gains, the Securities and Exchange Commission (SEC) said in announcing fraud charges against the pair Wednesday.
In a parallel action, the Department of Justice (DOJ) is pursuing criminal charges against the duo: Lawrence Billimek, an equity trader who since 2012 has worked for an asset manager in New York that handles about $283 billion in client funds, and day trader Alan Williams.
Williams, 77, is a retired head equity trader who last worked at a large firm. He had been working in the securities industry since 1971.
2025-07-11T21:14:00Z By Oscar Gonzalez
The U.S. Department of Justice arppoved T-Mobile’s acquisition of competitor UScellular. The move came a day after T-Mobile announced it had dropped its diversity, equity, and inclusion programs, a frequent target for Trump’s administration.
2025-07-11T19:43:00Z By Aaron Nicodemus
The state of Florida is investigating Robinhood Crypto for falsely claiming it charges the lowest fees for processing crypto transactions.
2025-07-10T12:00:00Z By Neil Hodge
Tariff risk has probably rarely featured on many companies’ risk registers in recent years, but it now likely sits high on the agenda because of President Donald Trump’s tariff focus.
2025-07-09T18:02:00Z By Adrianne Appel
CVS has vowed to appeal $948.8 million in fines and damages imposed by a judge Tuesday on its Omnicare unit, for billing Medicare for tens of thousands of false claims.
2025-07-08T19:50:00Z By Aaron Nicodemus
Federal banking regulators have laid the blame for Discover Financial Services charging merchants $1 billion in excessive credit card fees over 17 years squarely at the feet of company executives.
2025-07-07T19:02:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau has dropped a $95 million enforcement action against Navy Federal Credit Union, the latest regulatory pullback by the agency under President Donald Trump.
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