On March 25, 2010, BrokeAndBroker.com at http://brokeandbroker.com/index.php published a detailed analysis at http://www.brokeandbroker.com/index.php?a=blog&id=346 of Securities and Exchange Commission v. Igor Poteroba, Aleksey Koval and Alexander Vorobiev (SDNY March 24, 2010), which alleged that Defendant Igor Poteroba, a high-ranking investment banker in UBS Securities LLC's Global Healthcare Group in New York City, tipped his friend Defendant Aleksey Koval with highly confidential inside information about impending transactions involving pharmaceutical companies. Koval, who held positions at securities industry firms at the time, then traded in stocks and options of the companies targeted for acquisition. Koval also tipped their friend Defendant Alexander Vorobiev, who traded ahead of four of the deals. Among the means of communication allegedly used to illegally tip and trade on the inside information were coded e-mail messages that referred to securities and money as "frequent flyer miles" and "potatoes." One e-mail exchange about insider trading was purportedly a discussion about a Macy's wedding registry. Defendant Poteroba recently entered into a settlement with the SEC. LEARN MORE ABOUT THIS CASE AT
http://www.huffingtonpost.com/bill-singer/insider-trading-frequent-_b_743405.html
BrokeAndBroker.com Blog publisher, Bill Singer, is no fan of Wall Street's version of self regulation, as spearheaded by the Financial Industry Regula... Read On
The Saga of FINRA Versus Kimberly Springsteen-Abbott(2015 - 2021 -- and maybe not done yet)FINRA placed Kimberly Springsteen-Abbott squarely in its re... Read On
GUEST BLOG: COVID-19's Impact on Financial Advisors / How the Pandemic is Changing the Way Advisors Work by Michael King of Michael King Associates (B... Read On
If there's one thing that's certain about the COVID-19 pandemic, it's that it has changed the way we work and interact with one another. From virtual ... Read On
Someone lost about $100 from a Bank of America drive-up ATM. Someone found it. That first finder wasn't a keeper. That first finder gave the $100 to a... Read On
We got a really, really busy day of news over at our companion publication the "Securities Industry Commentator." The content is free and fabulous. Wh... Read On
Recently, the SEC issued: "SEC Awards Almost $3 Million Total in Separate Whistleblower Awards" (SEC Release / February 19, 2021) https://www.sec... Read On