The SEC and the Bad Guys

Below is the norm for the SEC but what I would like to see is them go after the dishonest analyst's that give a upgrade or downgrade on a stock and then make it public hours or even a day later. This gives time for their network to buy or sell shares of a said company before the public knows what is going on. You see it all the time, a said stock goes up or down for no apparent reason and later you find out there was a catalyst in the form of a news release. This is has been going on since online trading started.


SEC Charges Cardiologist With Insider Trading on Confidential Drug Trial Developments
Washington D.C., Aug. 4, 2016 — The Securities and Exchange Commission today charged a cardiologist with insider trading on confidential developments as he worked on a clinical drug trial.
https://www.sec.gov/news/pressrelease/2016-156.html

SEC Halts Ongoing Fraudulent Stock Scheme
Washington D.C., July 22, 2016 — The Securities and Exchange Commission today announced it has won a court-ordered asset freeze to halt an ongoing fraud by two former brokers with disciplinary histories who allegedly raised more than $5 million from investors without using the money as promised.
In an emergency action filed in federal court in Chattanooga, Tenn., the SEC alleges that James Hugh Brennan III and Douglas Albert Dyer sold purported shares in eight similarly named companies to more than 240 investors since 2008 without ever registering the stock as they promised. Instead, according to the SEC’s complaint, Brennan and Dyer transferred investor funds into their personal accounts or those belonging to their wives. The SEC further alleges that Brennan and Dyer continue to solicit investors while touting their securities industry experience and failing to disclose that Brennan was banned from the brokerage industry and Dyer suspended and fined for executing unauthorized transactions in customers’ accounts.
https://www.sec.gov/news/pressrelease/2016-148.html

“We allege that Brennan and Dyer have been telling investors the same lies for several years without fulfilling any of the promises they’ve made, and the court’s temporary restraining order stops them from soliciting any more investors and freezes their assets as we pursue litigation,” said Walter Jospin, Director of the SEC’s Atlanta Regional Office.
https://www.sec.gov/news/pressrelease/2016-148.html

 

SEC charges hedge fund titan Leon Cooperman with insider trading
Bloomberg reports Leon Cooperman of Omega Advisors faces insider trading charges. They allege he generated substantial illicit profits.
He's charged with failing to timely report information.

That could be the biggest insider tradingcase ever. Cooperman's net worth is estimated at $3.2 billion. He's the former CEO of Goldman Sachs Asset Management.
http://news.forexlive.com/!/sec-cha...-leon-cooperman-with-insider-trading-20160921

 

SEC files charges for alleged $26 million stock fraud
The Securities and Exchange Commission (SEC) on Monday charged two New Jersey traders with manipulating thousands of stocks to score $26 million in profit, the agency says.

Joseph Taub and Elazar Shmalo allegedly used several brokerage accounts to manipulate stock prices and the New York Stock Exchange and Nasdaq.

Taub and Shmalo used one account at one firm to buy stock in a company and another to drive up its price before using the first account to sell the stock for profit, according to the SEC. In other cases, they’d use one account to drive down the price of a stock with sell orders before using another account to buy it at the lower price.

“As alleged in our complaint, Taub and Shmalo schemed dozens of times per trading day to artificially move stock prices for their personal benefit,” said Andrew M. Calamari, director of the SEC’s New York regional office.
The SEC charged Taub and Shmalo with violating anti-stock fraud securities laws. New Jersey’s United States attorney also charged the traders.
http://thehill.com/policy/finance/309998-sec-files-charges-for-alleged-26-million-stock-fraud