Home ForexTrading US securities regulators freeze assets in suspected insider trading

US securities regulators freeze assets in suspected insider trading

by Jonathan Adams

The U.S. Securities and Exchange Commission (SEC) said on Tuesday it obtained a court order last month to freeze the assets of unknown traders who posted more than $3.6 million (£2.93 million) in profits on potential illegal insider trading before Softbank announced a deal to acquire Fortress Investment.

The SEC has alleged that unknown customers of Singapore-based broker-dealer Maybank Kim Eng Securities and U.K.-based broker-dealer R.J. O’Brien Ltd. possessed material non-public information on the deal and purchased Fortress derivative securities known as contracts for difference (CFD). CFDs are prohibited in the U.S.



Important
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

Related News

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Know more